Norway’s Sovereign Wealth Fund Acquires 25% Stake in Covent Garden for £570 Million

The world’s largest sovereign wealth fund deepens its London investments with a major acquisition in the iconic West End estate.

The £570 million deal secures Norway’s sovereign wealth fund a 25% stake in the £2.7 billion Covent Garden property portfolio.
The portfolio spans 1.5 million square feet, primarily comprising retail and leisure properties, and includes over 220 shops and cultural landmarks like the Royal Opera House.
This marks the fund’s second major investment in London this year, following a £306 million stake in Mayfair’s Grosvenor estate in January, bringing its 2025 London investments to £876 million.
Covent Garden has seen a strong post-pandemic recovery, with record tourism and retail activity, including over 1 million daily visitors during the 2024 holiday season.
Shaftesbury Capital, the seller, anticipates sustained long-term income and value growth for the estate, supported by its strategic partnership with Norges Bank Investment Management.