MetLife and the Government Pension Fund (Norway) make an acquisition for 561 million USD

MetLife (1st American life insurer) and the Government Pension Fund-Global (GPF-G) of Norway have acquired an office tower in Boston.

This real estate acquisition, for the amount of 561 million USD brings the grand total of the joint-venture of these two entities to 2.4 billion USD.

The American insurer will have 52.5% of the tower, while the remaining 47.5% will be managed by the Norges Bank, main manager of the GPF-G.

As a reminder, the partnership between the American insurer and the Norvegian fund goes back to December 2013, when GPF-G has shown a willingness to diversify its holdings while Metlife was seeking for institutional investors for its new asset-management unit.

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