Real Estate Investment Board
The Real Estate Investment Board (REIB) approves investments in unlisted real estate to be decided upon by the CEO of Norges Bank Real Estate Management. It also makes recommendations on investments to be approved by Norges Bank’s Executive Board.
REIB approves investments above 500 million dollars, to be decided upon by the CEO of Norges Bank Real Estate Management, and investments that are significantly different from regular investments. REIB also makes recommendations to the Executive Board on investments above 1.5 billion dollars.
REIB ensures that investment decisions are made in accordance with the mandate for real estate investments and the fund’s strategy plan. Decisions require a majority vote.
REIB consists of the Chief Executive Officer of Norges Bank Investment Management (chair), the Chief Executive Officer of Norges Bank Real Estate Management, the Chief Risk Officer of Norges Bank Investment Management, and two external advisors.
Christian Ringnes is the principal shareholder and CEO of the real estate companies Eiendomsspar and Victoria Eiendom, and Chairman of the hotel property company Pandox. He holds an MSc from HEC Lausanne and an MBA from Harvard Business School.
Petter Fredrik Neslein is the controlling owner and CEO of the real estate and investment company Pecunia AS, which manages and develops commercial and residential properties in central Oslo. He holds a BSc from the University of Fribourg and an MBA from Columbia University in New York.