Norway's sovereign fund commits $1.6B to European logistics real estate via Ares

Norway's sovereign wealth fund (Oljefondet) has signed an agreement with Ares Real Estate to develop logistics properties across Europe, committing 16 billion Norwegian kroner (~$1.6B). This marks a continued strategic allocation into real assets, specifically logistics, amid e-commerce-driven demand. The deal signals confidence in European logistics fundamentals despite broader economic uncertainty.