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Norwegian Finance Minister Siv Jensen speaks during a press conference on sovereign wealth fund and oil stocks on March 8, 2019 in Oslo. - Norway's sovereign wealth fund, the world's biggest and which is fuelled by petrodollars, will divest its oil and gas holdings to reduce its exposure to the oil sector, the Norwegian government announced. While the decision is based solely on financial considerations and not on the environment or climate change, a divestment by an investor worth more than $1 trillion will undoubtedly be seen as a major blow to polluting fossil fuels. - Norway OUT (Photo by Cornelius Poppe / NTB scanpix / AFP) / Norway OUT (Photo by CORNELIUS POPPE/NTB scanpix/AFP via Getty Images)
Malaysia’s two SWFs a ‘joke’ compared with Norway and Singapore
KUALA LUMPUR, March 20, 2025: Norway Sovereign Wealth Fund (SWF) has made a US$1 billion (RM4.42 billion) real estate investment.
According to a Jan 29 Reuters report, Norway’s US1.8 trillion (RM7.56 trillion) SWF, the world’s largest, made a record profit of 2.51 trillion crowns (US$222 billion/RM932 billion), driven by last year’s tech rally.
Singapore has two SWFs, Temasek Holdings (TSK) and the Government Investment Corporation (GIC). Singapore is a unique case in that it has two of the oldest and largest SWFs.
GIC is one of the largest SWFs in the world and has some 2,300 employees and estimated assets under management of $800.8 billion, as reported by Bloomberg.
What is the state of Malaysia’s two SWFs - 1Malaysia Development Berhad (1MDB) and Khazanah Nasional Berhad)?
One had its funds stolen by billions led by a disgraced former prime minister Najib "1MDB" Razak who is now serving his jail sentence in Kajang Prison, and the other is used by the Government to bail out ailing Government-Linked Companies like national airline MAS.
And Malaysia’s national debt is currently more than RM1.5 trillion! That’s Malaysia Boleh! (Malaysia Can!) for you.
No News Is Bad News reproduces below a news report on Norway’s SWF’s investment:
Norway sovereign wealth fund makes US$1bil real estate investments
-20 Mar 2025, 05:10 PM
Norges Bank Investment Management says the Shaftesbury Capital deal is expected to close in early April, while the AXA Lifestyle Housing deal is set for Q1 2025.
Norges Bank Investment Management bought a 25% interest in a property portfolio in London in a new joint venture with Shaftesbury Capital for £570 million. (Getty Images pic)
COPENHAGEN: Norway’s sovereign wealth fund said today it had bought stakes in two real estate portfolios from Shaftesbury Capital and AXA Lifestyle housing for a total amount of US$1 billion.
Norges Bank Investment Management (NBIM) said it bought a 25% interest in a property portfolio in London in a new joint venture with Shaftesbury Capital for £570 million, (US$740.03 million), valuing the portfolio at £2.66 billion.
It said in a separate statement it has agreed to buy a 40% interest in AXA Lifestyle Housing, which owns and operates student housing and co-living properties in France and Spain, for €240 million (US$261.02 million).
Shaftesbury Capital will retain the remaining 75% interest and manage the London portfolio on behalf of the joint venture, while subsidiaries of AXA will hold 60% ownership in the other portfolio.
“Completion of the deal with Shaftesbury Capital is expected in early April, while the agreement with AXA Lifestyle Housing is expected to be completed in the first quarter of this year (Q1 2025),” NBIM added.
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