NPS Partners with Almanac in $800 Million Real Estate Investment

The National Pension Service of Korea (NPS) and Almanac Realty Investors, a private real estate investment arm of Neuberger Berman, have formed a strategic partnership to make significant investments in real estate platforms and GP stakes globally. This collaboration involves a capital deployment of $800 million across various vehicles managed by Almanac. The partnership focuses on three main areas: anchor commitments to Almanac's flagship growth strategy for real estate operating companies, commitments to acquiring minority equity stakes in real estate managers, and a dedicated vehicle for NPS. This alliance showcases the evolving trend in real estate platform investing, which is gaining traction as a key strategy for forward-thinking investors. Both entities express strong alignment in their outlook on the real estate market and anticipate significant growth and value creation from this collaboration.