Norway's sovereign wealth fund is buying a slice of Covent Garden for $739 million amid retail boom for the former fruit and veg market

people standing in covent garden (Credit: Mike Kemp—In Pictures/Getty Images)

The world’s largest sovereign wealth fund—Norway’s Norges Bank Investment Management (NBIM)—is buying a 25% stake in London’s buzzy Covent Garden worth £570 million ($739 million). 

NBIM, which has nearly $2 trillion worth of assets under management and holds 1.5% of all listed companies in the world, is partnering with Shaftesbury Capital, the area’s landlord, for the deal.