NBIM and Blackstone Form Strategic Partnership in North American Logistics Real Estate

An agreement was finalized on May 14, 2025. Norges Bank Investment Management (NBIM) maintains a portfolio of logistics real estate valued at 138 billion kroner, spanning locations throughout Europe and the United States. This partnership will open up additional investment avenues for NBIM while collaborating with an established partner, Blackstone.

"Our discussions with Blackstone have been constructive over an extended period. Blackstone brings extensive expertise as a real estate investor and maintains an excellent industry standing. Their proven ability to generate value responsibly for investment partners is impressive," states Ed Lerum, Head of Global Logistics Real Estate at Norges Bank Investment Management.

BAL's investment strategy focuses on logistics warehouse facilities situated in major metropolitan areas, where these properties play an essential role in supporting economic consumption and production activities. The geographical scope includes the United States and Canada.

"We are enthusiastic about forging this partnership with Blackstone. This collaboration enables us to expand our presence in the US and Canadian logistics sectors while enhancing our expertise and insights through our work with Blackstone," comments Per Løken, Global Co-Head of Unlisted Real Estate at Norges Bank Investment Management.

[1] Norges Bank Investment Management serves as the fund management arm of Norges Bank. All direct investments in unlisted real estate and renewable energy infrastructure are executed and overseen through subsidiary entities established by Norges Bank.