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The Guardian - UK
The Guardian - UK
Business
Kalyeena Makortoff

Norway’s sovereign wealth fund buys a quarter of London’s Covent Garden

Covent Garden London Shaftesbury Capital Shaftesbury Norway Norges
Covent Garden market
Shaftesbury Capital’s Covent Garden estate includes more than 220 shops. Photograph: Vuk Valcic/Sopa Images/Rex

Norway’s sovereign wealth fund, the world’s biggest, has made a fresh bet on the future success of central London as the country’s investment vehicle struck a £570m deal to buy a quarter of the Covent Garden estate.

Norges Bank Investment Management (NBIM), which manages $1.8tn (£1.4tn) and invests government money from the oil industry, announced on Thursday that it had bought the 25% stake in the £2.7bn Covent Garden property portfolio of the landlord Shaftesbury Capital.

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