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Norway's wealth fund buys another London property

It acquires a 57.8% stake in a Mayfair estate for £343m

[OSLO] Norway's sovereign wealth fund, the world's largest, bought a stake in an estate in London's Mayfair district for £343 million (S$720 million), expanding its property holdings in the UK capital.

The fund bought a 57.8 per cent share in the 1.3-ha Pollen Estate between Regent Street and Bond Street from the Church Commissioners for England, Oslo-based Norges Bank Investment Management said yesterday. The UK Crown Estate bought a 6.4 per cent stake for US$38 million.

"The purchase is according...

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