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Karsten Kallevig, who built up the fund’s real estate investments since they started a decade ago, will become a special adviser to recently appointed chief executive Nicolai Tangen, and will no longer be part of the leadership team.
“I am pleased to have Karsten in a more strategic role,” Tangen said in a statement. “He has built a high-quality organisation over the past decade and carries with him valuable investment experience which will benefit us going forward.”
The fund now plans to recruit a head of so-called real assets, it added.
The new leadership group is scheduled to be announced in October.
