Speakers

Alex Knapp is Global Head of Real Estate at Norges Bank Investment Management (NBIM), manager of Norway's Government Pension Fund Global. He joined NBIM from Hines, where he served as Chief Investment Officer for Europe and was a member of the Global Executive Committee and Global Investment Committee. During his more than 16 years at Hines, he grew the European platform from €16 billion to over €30 billion. At NBIM, Alex leads the fund's listed and unlisted global real estate investments and strategy implementation, and is based in London. He is currently overseeing a major strategic overhaul of the portfolio, transitioning from geographical concentration to broader sector diversification, with an increasing share of investments made through indirect structures such as funds and platforms.

NBIM Real Estate

Norges Bank Investment Management (NBIM) manages Norway's Government Pension Fund Global, one of the world's largest sovereign wealth funds at approximately €1.6 trillion. Real estate is a core allocation, with a portfolio of approximately €58 billion spanning listed and unlisted investments across Europe, the Americas and Asia-Pacific. 2026 marks a strategic inflection point. NBIM is actively growing its real estate exposure, currently well below its 7% ceiling, with a target of 3.5% to 7% by end of 2028. Under its new strategy, the fund is shifting from concentrated direct ownership towards greater sector diversification, accessing markets through platforms, funds and joint ventures with best-in-class operating partners. With teams in London and New York, NBIM brings long-term, patient capital and a global perspective to an evolving real estate landscape.