Karsten Kallevig was named special adviser focusing on real assets at Norges Bank Investment Management, which runs the world’s largest sovereign wealth fund.
Mr. Kallevig’s new position is full time, a spokeswoman for NBIM confirmed.
Mr. Kallevig was CIO of real estate at the firm, which manages the assets of the 10.5 trillion Norwegian kroner ($1.16 trillion) Government Pension Fund Global, Oslo.
NBIM is in the process of recruiting a chief real asset officer, with an announcement set to be made next month, a news release said. Mr. Kallevig will work closely with this person.
“I am pleased to have Karsten in a more strategic role,” Nicolai Tangen, CEO of NBIM, said in the release. “He has built a high-quality organization over the past decade and carries with him valuable investment experience which will benefit us going forward.”
Mr. Kallevig was appointed CIO for real estate in April 2019. He was previously CEO of Norges Bank Real Estate Management, which was a separate unit within NBIM until 2019. He joined NBIM in September 2010 as global head of real estate asset strategies.
