– Stanhope has been appointed by Norges Bank Investment Management (NBIM) to manage and optimise returns on NBIM’s prime commercial real estate portfolio across London and Paris.
– The mandate covers 2.4 million sq ft of directly owned assets located in London’s West End, Midtown and City, as well as Paris’ CBD.
– The partnership supports NBIM’s strategy of outsourcing direct asset management to specialist operators, with both firms also seeking new prime commercial investment opportunities in London and Paris.
– The current portfolio is valued at approximately £4 billion and comprises nine assets (six stabilised properties and three refurbishment/development projects).
– The appointment increases Stanhope’s assets under management to more than £8 billion and marks its expansion into the Paris office market, supported by the opening of a Paris office and two senior hires.
– Guilain Decrop, Co-Head of Europe – Real Estate at NBIM, said Stanhope’s operational expertise and strong alignment with NBIM are expected to generate superior returns.
– DAVID CAMP, CEO of Stanhope, said the mandate establishes a strategic alliance with the world’s largest sovereign wealth fund, strengthens Stanhope’s growth, and validates its bespoke, partner-focused asset management approach.
