Does new Norges strategy spell end of UK deal-making?

Regent Street

Norwegian sovereign wealth fund to focus on ‘cost efficiency and investments that require limited resources’.

The fund is doing away with Norges Bank Real Estate Management, the business unit it set up to manage its unlisted property investments. It has also scrapped its upper limit of 7% exposure to unlisted property in favour of a new target allocation to real estate, both listed and unlisted, of 3% to 5%.

So does the change of approach mean that Norges will put the brakes on its UK property investment? And could other big global investors follow its lead?

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