Key Takeaways
- • Norges Bank Investment Management appoints Alexander Knapp as global head of real estate, effective June 16, 2025, to oversee both listed and unlisted real estate investments for the $1.75T Government Pension Fund Global.
- • Knapp will report to Pedro Furtado Reis, co-chief investment officer for active equities, and will be based in London, filling a position vacant since the fund's 2024 reorganization that merged real assets and equity investment units.
- • The appointment brings 16 years of institutional real estate experience, including tenure as Chief Investment Officer for Europe at Hines, a $90.1B global real estate firm, where Knapp served on global investment and executive committees.
- • Norges Bank holds 1.9% of the Government Pension Fund Global allocated to unlisted real estate as of March 31, 2025, positioning the new global head to manage a material portion of the world's largest sovereign wealth fund's portfolio.
- • Knapp holds a master's degree in real estate development from MIT, bringing technical expertise to the strategic leadership role during a period of organizational restructuring at the Norwegian fund.
Summary
Norges Bank Investment Management has named Alexander Knapp as global head of real estate, effective June 16, 2025. The appointment concludes a search that began following the fund's 2024 organizational restructuring, which merged real assets and equity investment units and resulted in the departure of Mie Caroline Holstad, the prior chief investment officer of real assets.
Knapp will lead stewardship of the Government Pension Fund Global's listed and unlisted real estate investments and oversee strategy implementation across the portfolio. The fund, worth $1.75 trillion, maintains a 1.9% allocation to unlisted real estate as of March 31, 2025. He will report to Pedro Furtado Reis, co-chief investment officer for active equities, and will be based in London.
Prior to joining Norges Bank, Knapp served as Chief Investment Officer for Europe at Hines, one of the world's largest privately held real estate investors and managers, where he managed $90.1B in assets. Over his 16-year tenure at Hines, he held multiple leadership roles and served as a member of both the global investment and executive committees. In September 2024, Hines restructured its leadership to establish a global investment team, appointing Alfonso Munk and Chiang Ling Ng as co-heads.
In a statement, Pedro Furtado Reis remarked that Knapp "brings extensive investment experience and a global perspective" and possesses "both the strategic mindset and leadership style needed to excel in this demanding role." Knapp holds a master's degree in real estate development from MIT, combining formal technical expertise with institutional investment experience. The appointment reflects Norges Bank's focus on fortifying leadership during a period of significant internal organizational change.
Knapp will lead stewardship of the Government Pension Fund Global's listed and unlisted real estate investments and oversee strategy implementation across the portfolio. The fund, worth $1.75 trillion, maintains a 1.9% allocation to unlisted real estate as of March 31, 2025. He will report to Pedro Furtado Reis, co-chief investment officer for active equities, and will be based in London.
Prior to joining Norges Bank, Knapp served as Chief Investment Officer for Europe at Hines, one of the world's largest privately held real estate investors and managers, where he managed $90.1B in assets. Over his 16-year tenure at Hines, he held multiple leadership roles and served as a member of both the global investment and executive committees. In September 2024, Hines restructured its leadership to establish a global investment team, appointing Alfonso Munk and Chiang Ling Ng as co-heads.
In a statement, Pedro Furtado Reis remarked that Knapp "brings extensive investment experience and a global perspective" and possesses "both the strategic mindset and leadership style needed to excel in this demanding role." Knapp holds a master's degree in real estate development from MIT, combining formal technical expertise with institutional investment experience. The appointment reflects Norges Bank's focus on fortifying leadership during a period of significant internal organizational change.
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