Norges Bank Investment Management [1] has entered into an agreement with Blackstone to commit 800 million dollars to Blackstone’s Core+ North America logistics closed-end fund, Blackstone Americas Logistics (“BAL”).
The agreement was signed on 14 May 2025.
Norges Bank Investment Management (NBIM) currently owns 138 billion kroner of logistics properties across Europe and the US. This commitment will provide NBIM with further investment opportunities and exposure together with a reputable partner, Blackstone.
“We’ve had productive dialogue with Blackstone for a long time. Blackstone is a highly experienced real estate investor with a strong reputation. They have a compelling track record of responsibly creating value for their investment partners,” says Ed Lerum, Head of Global Logistics Real Estate at Norges Bank Investment Management.
BAL will invest in logistics warehouse properties located in large population centres, where the usage of the properties is critical for economic consumption and production. The investments will be in the US and Canada.
“We are excited about entering into a partnership with Blackstone. This opportunity allows us to increase our exposure to the US and Canadian logistics markets and grow our knowledge and experience alongside Blackstone.” says Per Løken, Global Co-Head of Unlisted Real Estate at Norges Bank Investment Management.
[1] Norges Bank Investment Management is the fund management division of Norges Bank. All unlisted (or direct) investments in real estate and renewable energy infrastructure are made and managed by subsidiary structures set up by Norges Bank.
Line Aaltvedt
Head of Communications
Cell phone: (+47) 94 85 46 56
Email: press@nbim.no
