Norges Bank Investment Management (NBIM) has formed a new US retail real estate partnership with Asana Partners, committing $500m (鈧�437m) to the venture.

The asset manager of Norway鈥檚 NOK22trn (鈧�2trn) sovereign wealth fund has taken a 49% stake in Asana Partners Strategic Partners I (APSP I), which will invest in and operate core and core-plus neighbourhood retail property across the US.

The venture, which will target open-air shopping centres and street retail in high-growth markets, is acquiring a 50% stake in a portfolio of premium, grocery-anchored centres as its first investment.

Reed Kracke, partner at Asana Partners, said: 鈥淲e are honoured to partner with NBIM, one of the world鈥檚 premier institutional investors.

鈥淔orming APSP I reflects our shared conviction in the strength and resilience of neighbourhood retail real estate and expands our existing capability to capitalise on attractive investment opportunities across the country.鈥�

Asana Partners said the partnership was 鈥渃omplementary鈥� to Asana Partners Select Fund, the firm鈥檚 existing core and core-plus real estate vehicle.

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Raz joined the 麻豆映画 editorial team in 2017 as news editor of 麻豆映画 Real Assets. He has over 15 years of experience as a financial journalist, having worked for Dow Jones Newswires and The Wall Street Journal where he worked as an equities reporter covering corporate news. He later covered consumer finance and moved on to become a leisure reporter and helped manage the London corporate news and small-cap desk.View full Profile

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