Norges Bank Real Estate Management has appointed new chief investment officers for its operations in Europe and the US.
Romain Veber (left) has been moved to the CIO position for the real estate arm of Norges Bank Real Estate Management (NBIM) in Europe, while Per Løken (right) takes the role in the US.
Both come from senior roles in NBIM and will share responsibilities for the bank's investment strategy, with the investments split evenly between Europe and the US.
NBIM manages the investments on behalf of Norway's €822 bn petroleum-fuelled state pension fund. Real estate in Europe and the US accounts for about 2.5% of the overall pension fund's investment portfolio.
'We are happy that Per and Romain are taking on these positions. They bring both experience and continuation to our investment efforts,' commented Karsten Kallevig, CEO of Norges Bank Real Estate Management.
Veber joined NBIM in 2011 as portfolio manager, leading the investment efforts in Paris.
'I am pleased and proud to get this opportunity. I have been working with the fund since 2011 and am confident that we have a solid foundation for continued success and growth. I look forward to working closely with the team to take on this challenge,' said Romain Veber.
Løken has worked at NBIM since 2011, primarily focusing on UK real estate investments. He was named business manager in 2014, and most recently acted as interim chief investment officer.
'I am excited and proud to get this opportunity to lead the US Investment team. We have come a long way since I joined the fund in 2011, and since we made our first real estate investment in the US in 2013. I look forward to continuing building our portfolio with the team,' concluded Løken.
