Norges Bank Investment Management [1] has signed an agreement to enter a new strategic partnership with Ares Real Estate (“Ares”), which will invest in, develop and operate high-quality logistics assets across Europe.
The agreement was signed on 20 October 2026.
Norges Bank Investment Management has made an equity commitment of 1.5 billion euros and will have an ownership stake of 96 percent.
Norges Bank Investment Management currently owns about 11.5 billion euros of logistics properties across Europe and North America. This partnership will provide further investment opportunities and exposure alongside Ares.
“Ares is an experienced investor and developer with a strong presence in Europe's major logistics markets, and has a good track record of creating value for its investment partners. This partnership gives us access to both standing assets and development opportunities, and we look forward to building a long-lasting partnership,” says Alex Knapp, Global Head of Real Estate at Norges Bank Investment Management.
The partnership will invest in logistics warehouse facilities, focused on locations near major European consumer centres. Ares’ integrated logistics operating platform, Marq Logistics, will source, develop and manage the assets. The investments will be predominantly in Western and Southern Europe, including the United Kingdom.
[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.
