Grosvenor and Norges Bank Investment Management formed a joint venture in a £1.2bn deal.

Grosvenor, an internationally diversified property group, and Norges Bank Investment Management, a separate branch of Norges Bank which is responsible for the management of the Government Pension Fund, formed a joint venture in a £1.2bn deal. “This partnership brings together two deeply aligned, long-term investors who share huge confidence in the future of the West End and London,"James Raynor, Grosvenor Property UK CEO.