OSLO Jan 13 Norway's $824.40 billion sovereign
wealth fund purchased stakes in two office properties in
Washington and San Francisco for a net purchase price of $480
million, the central bank, which manages the fund, said on
The fund, commonly known as the oil fund, will hold 47.5
percent of the properties while MetLife will hold 52.5
percent and manage the assets.
The fund, the world's biggest sovereign wealth fund can
invest up to 5 percent of its assets in real estate and has made
a string of investments in recent years, building a portfolio
that is still worth only around 1 percent of the fund.