Home > News > Asset Allocation > NBIM Acquires $1B Stake in Logistics Portfolio From CPP Investments
Asset Allocation

NBIM Acquires $1B Stake in Logistics Portfolio From CPP Investments

NBIM takes a 45% interest in a 48-building U.S. portfolio, while the Canadian Pension Plan separately divested from a real estate joint venture in China.
By Matt Toledo



Norges Bank Investment Management, the fiduciary manager of Norway’s $1.74 trillion sovereign wealth fund, announced Friday the acquisition of a stake in a logistics portfolio comprised of 48 buildings across the U.S.

NBIM purchased a 45% stake in the portfolio for $1.07 billion, valuing the portfolio at $3.265 billion. The stake was purchased from the $468.36 billion Canada Pension Plan Investment Board. The other stakeholder in the venture is the Goodman North American Partnership, which will retain its 55% stake in the venture and continue to manage the joint venture’s assets.

According to a news release, the portfolio includes 1.3 million square meters of leasable area across Southern California, New Jersey and Pennsylvania. 

On Friday, CPP Investments also announced that the fund had agreed to sell a 49% interest in four real estate projects in China—all joint ventures with Longfor Group Holdings Ltd. The proceeds to CPP Investments will be worth C$235 million ($163 million). 

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The joint ventures included retail malls, along with connected office and residential properties, in Shanghai, Suzhou, Chengdu and Chongqing, according to CPP Investments. A news release noted that CPP still has multiple joint ventures with Longfor, which has partnered with the pension fund since 2014.

The divestment comes at a time when institutional investments in China are being scrutinized by lawmakers and regulators. In 2023, CPP Investments paused making new investments in China, Reuters reported at the time, citing sources. In March 2024, the fund cut 10% of its staff in Hong Kong, according to Bloomberg News, which also cited sources. A CPPIB spokesperson, however, denied that the fund’s investment in China has been halted.

“There’s no pause,” the spokesperson wrote in an email. “Even as we pursue both relative, as well as absolute, returns in portfolio design and construction, it results in shifts across asset and geographical allocation.”

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Pressure Mounts on Public Pension Funds to Divest Chinese Investments

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Home > News > Asset Allocation > Oregon Pension Publishes Inaugural Progress Report on Net-Zero Plan
Asset Allocation

Oregon Pension Publishes Inaugural Progress Report on Net-Zero Plan

The Oregon Public Employees’ Retirement Fund aims to achieve a net-zero carbon emission portfolio by 2050.
By Matt Toledo



The Oregon Public Employees Retirement Fund is one of many public pension funds aiming to achieve a net-zero portfolio, despite an expected pullback in investing based on environmental, social and governance principles. The fund expects its portfolio, which today stands at about $100 billion in assets, to produce zero carbon emissions by 2050.  

On December 30, 2024, the fund released the inaugural annual report on its net-zero plan, rolled out by Oregon State Treasurer Tobias Read in early 2024. As part of the plan, the fund expects to achieve a 60% reduction in portfolio emissions intensity by 2035, as based on 2022 figures.  

In 2022, the fund’s public equity portfolio comprised 47% of the total portfolio emissions, 1.8 million tons. Real assets comprised 30%, 1.14 million tons. Private equity comprised 16% of the fund’s emissions, 598,157 tons. Real estate comprised 5%, 134,646 tons, and fixed income comprised 3% of OPERF’s emissions, 134,646 tons. 

“From assessing heavy emitters’ transition readiness to engaging with investment managers and establishing a beneficiary advisory committee, these are critical first steps towards achieving our goals of reducing real-world emissions and ensuring the resiliency of the retirement fund,” Read said in a statement. 

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So far, progress on the plan includes the appointment of an advisory group of Public Employees Retirement System members and retirees to provide feedback on the plan to the treasury. The fund also completed its assessments of carbon intensive companies in the portfolio, including those involved with coal, tar sands, oil and gas. The fund is assessing the transition readiness of these companies.  

The fund also tripled its $2 billion in investments in climate-positive real assets and private equity holdings and has excluded private market funds that invest primarily in fossil fuels.  

Related Stories: 

Oregon Enacts Thermal Coal Divestment Law 

Oregon Plans for Net Zero Portfolio by 2050 

Oregon Treasurer Pledges to Decarbonize State Pension Fund By 2050 

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