#USA #Charlotte #Asana Partners #Norges Bank #retail investments

Strategic Partnership to Boost Local Retail Investments

CHARLOTTE, North Carolina – July 8, 2026 – Asana Partners has announced a new strategic partnership with Norges Bank Investment Management (NBIM) that aims to actively engage in the local retail sector across the United States. The newly formed venture, called Asana Partners Strategic Partners I (APSP I), is set to invest in and operate high-quality core/core+ retail assets, including shopping centers, street retail businesses, and mixed-use properties.

With an initial capital commitment of $500 million from NBIM, APSP I is strategically focused on real estate situated in markets characterized by attractive demographics and strong demand from tenants. This initiative comes at a time when local retail spaces continue to adapt and thrive in the face of changing consumer behaviors and market dynamics.

Reed Kracke, a partner at Asana Partners, expressed enthusiasm about the collaboration, stating, "We are honored to partner with NBIM, one of the world’s leading institutional investors. The formation of APSP I reflects our shared belief in the strength and resilience of local retail properties, while expanding our capability to capitalize on attractive investment opportunities throughout the country."

The APSP I initiative will focus on acquiring properties in areas with enduring consumer interest and favorable baseline metrics that promise long-term value generation. This emphasis on quality aligns with Asana Partners' mission to create value in dynamic locations, utilizing vertically integrated capabilities and retail expertise.

The partnership also complements Asana Partners’ existing investment vehicle, the Asana Partners Select Fund, which is part of their core/core+ investment strategy. The initial focus of the new partnership will be a 50% stake in premium food-centric centers located within attractive growth markets.

Legal representation for Asana Partners in this venture was provided by King & Spalding LLP, while Clifford Chance served as the legal counsel for NBIM.

About Asana Partners

Asana Partners specializes in retail real estate investment, managing over $9 billion in local assets across the United States. The firm is dedicated to fostering a positive impact in the communities it operates, demonstrating a strong commitment to collaboration through its offices located in Charlotte, Atlanta, Boston, Columbia, Denver, Los Angeles, and New York. For more details, visit www.asanapartners.com or follow them on social media at @asanapartners.

About Norges Bank Investment Management

Norges Bank Investment Management oversees the Norwegian Government Pension Fund Global, which manages approximately NOK 22 trillion (about $2.2 trillion). This fund invests in international equity markets, fixed income markets, and real estate, aiming to ensure responsible and sustainable management of revenues derived from Norway’s oil and gas resources for the benefit of both current and future generations. Their focus is achieving optimal returns in a safe, efficient, responsible, and transparent manner within government frameworks.

For media inquiries, please contact Julie Ducworth at [email protected] or call 803.465.1198.