Ex-real estate CIO for Norwegian sovereign wealth fund joins US firm

Karsten Kallevig, special real estate advisor to the CEO of the Norwegian sovereign wealth fund, is moving to the USA to join the real estate investment fund Prologis.

Starting October 1, he will lead Prologis’ strategic capital business, which includes 10 co-investment ventures in the US, Latin America, Europe and Asia.

Kallevig will aim to expand the company’s real estate ownership and private investment relationships. He reports to the Chairman and CEO of Prologis, Hamid Moghadam.

Kallevig joined the real estate program at Norges Bank Investment Management when it was founded in 2010. He built the team and a $ 30 billion real estate portfolio over the following decade.

He was Chief Investment Officer for Real Estate and CEO of Norges Bank Real Estate Management.

Most recently, he was special advisor to the CEO of the sovereign wealth fund Nicolai Tangen, a role he took up in September 2020.

Kallevig previously held senior positions at Grove International Partners and Soros Fund Management in Tokyo and London.

Moghadam said, “We believe that our strategic capital business has great potential for even greater growth as we continue to acquire and develop properties in the world’s strongest commercial centers.”