Karsten Kallevig takes top real estate role at Norges Bank IM

first_imgKarsten Kallevig has been appointed chief executive at Norges Bank Real Estate Management, starting in his new position on 1 January 2016.Kallevig, who joined Norges Bank Investment Management (NBIM) in 2010 as global head of real estate asset strategies, has been CIO for the asset class since 2011.Norges Bank Real Estate Management, which manages NBIM’s investments in unlisted real estate, was established as a separate division in July 2014.A dedicated leader group for the real estate area was established in October that same year. The Norwegian government recently called for the Government Pension Fund Global (GPFG) to invest in unlisted clean energy and emerging market infrastructure.Separately, in a report co-written by Leo de Bever, former chief executive of the Alberta Investment Management Corporation and commissioned by the Ministry of Finance last year, the government was urged to broaden the GPFG’s property mandate to allow it to benefit from urbanisation in emerging markets.Kallevig’s new role will see deputy chief executive Trond Grande, who had managed the division, hand over day-to-day responsibilities. Yngve Slyngstad, NBIM chief executive, said Kallevig was taking on a “big challenge”, with the fund aiming to invest approximately NOK50bn (€5.2bn) in real estate annually.“Real estate differs from the fund’s two other asset classes, equities and fixed income,” Slyngstad said.“Kallevig has the background and experience to lead this organisation.”Between 2006 and 2010, Kallevig served as head of Japan at Grove International Partners.He also previously worked for Soros Real Estate Partners in London.last_img read more

South African Victims of Marikana Massacre still awaiting Compensation

first_imgSouth African families affected by the Marikana massacre are still awaiting compensation for medical costs and loss of income from the government.The families are expecting the compensation after the president’s office released a statement in September saying that they will be compensated. They had also filed a civil claim and been with the commission of inquiry which is yet to give any resolutions.“On Friday we received an intention to defend, from the minister of police, so we weren’t quite certain what the position was, whether they intended to settle, but the state attorney did indicate to us that the intention is still to settle the claims. So at the moment we have no formal settlement, we don’t know what the process would be, there’s been no engagement with the families, about that, despite the president’s statement.” Said Kathleen Hardy, Legal Representative, Marikana FamiliesThe statement by the Minister of police was not clear on whether the families will be compensated or will move to court with the civil appeal. The South African government has been given 20 days by the court to communicate their intentions to the families’ legal representative.last_img read more

Autograph Night is June 7 at Thunderhill Raceway

first_imgBy Edward Anschutz STURGEON BAY, Wis. – Race fans will be able to get autographs from their favorite drivers this Saturday, June 7 at Thunderhill Raceway. Dan Lewis Photography will have checkered flags for purchase to put those signatures on. The autograph session will take place at intermission. The night is sponsored by Jim Olson Motors of Sturgeon Bay. A brand new GM 602 crate engine will go to one lucky racer in the IMCA Northern SportMod or IMCA Sunoco Hobby Stock division at the 2014 banquet courtesy of Jim Olson Motors. Pit gates open at 3:30 p.m. and racing starts at 6 p.m. Saturday.last_img