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The Petroleum Fund’s property manager leaves the management team and becomes a special advisor to Tangen.
Karsten Kallevig has been head of the property management department at Norges Bank.
Grøtt, Vegard Wivestad / NTB scanpix
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Kallevig will now focus on unlisted investments, the Petroleum Fund writes in a statement.
Over the past ten years, Kallevig has developed the portfolio and real estate organization in his roles as Director of Real Estate Investments at Norges Bank Investment Management and as Director of Norges Bank Real Estate Management.
– I’m happy that Karsten has a more strategic role. Over the past ten years, he has built a high-quality real estate organization and brings with him valuable investment experience that will benefit the fund in the future, says Petroleum Fund Director Nicolai Tangen.
Kallevig says he is very proud of what they have accomplished in the last decade.
– The organization is now well positioned for the future and I look forward to taking on a new role at the fund in the future, says Kallevig.
The new management team is expected to be announced in October.
