Norges Bank Investment Management has entered into a new strategic European logistics partnership with Ares Real Estate (Ares).
Norges Bank has made an equity commitment of €1.5bn and will have an ownership stake of 96% in the JV. The partnership will invest in, develop and operate logistics assets locations near major European consumer centres.
Ares’ integrated logistics operating platform, Marq Logistics, will source, develop and manage the assets, which will predominantly be located in Western and Southern Europe, including the United Kingdom.
Alex Knapp, global head of real estate at Norges Bank Investment Management, said: “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.”
