AMWatch

KLP investment manager has invested EUR 500m in real estate funds from girlfriend's apartment

A few weeks after Norway's biggest pension fund assigned the manager to make investments in real estate funds, the country shut down. KLP has since made commitments totaling over EUR 500m in five funds by global investment managers.

Andreas L. Farberg, investment manager global real estate at KLP. | Photo: Privat

In the fall of 2019, the management at Norwegian pension fund KLP agreed to increase its strategic asset allocation in real estate.

The allocation to real estate in the collective portfolio was changed from the old target of 13 percent to a new target of 15 percent. With NOK 600bn (EUR 61.8bn) in the portfolio, that meant that KLP could invest over NOK 12bn (EUR 1.24bn)  in real estate to reach the new goal.

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