Asana Partners and Norges Bank Investment Management Launch Strategic Neighborhood Retail Venture

New partnership will target high-quality neighborhood retail assets in the U.S.

CHARLOTTE, N.C., July 7, 2026 /PRNewswire/ -- Today Asana Partners announced the firm has closed a partnership with Norges Bank Investment Management ("NBIM") to form Asana Partners Strategic Partners I ("APSP I"). The new venture will invest in and operate high-quality core / core+ neighborhood retail assets throughout the United States, including grocery-anchored centers, unanchored centers, street retail, and mixed-use assets.

APSP I launched with an equity commitment of $500 million from NBIM. The venture will focus on properties located in markets with attractive demographics, durable tenant demand, compelling consumer fundamentals, and opportunities for long-term value creation.

"We are honored to partner with NBIM, one of the world's premier institutional investors," said Reed Kracke, Partner at Asana Partners. "Forming APSP I reflects our shared conviction in the strength and resilience of neighborhood retail real estate and expands our existing capability to capitalize on attractive investment opportunities across the country."

The strategic partnership with NBIM is complementary to the Asana Partners existing core / core+ investment vehicle, Asana Partners Select Fund.

The partnership's initial investment will be a 50 percent interest in a portfolio of premium, grocery-anchored centers in desirable growth markets.

King & Spalding LLP acted as legal advisor to Asana Partners. Clifford Chance acted as legal advisor to NBIM.

About Asana Partners
Asana Partners is a retail real estate investment firm creating value in vibrant neighborhoods by leveraging vertically integrated capabilities and retail expertise. With more than $9 billion of neighborhood assets under management, the firm is active in growth markets throughout the United States and is driven to make a positive impact within communities. Asana Partners champions a strong collaborative culture with offices in Charlotte, Atlanta, Boston, Columbia, Denver, Los Angeles, and New York. For more information, visit www.asanapartners.com or follow @asanapartners.

About Norges Bank Investment Management
Norges Bank Investment Management manages the Norwegian Government Pension Fund Global. With assets worth approximately 22,000 billion Norwegian kroner (around 2,200 billion US dollars), the fund is invested in international equity and fixed-income markets, as well as real estate and renewable energy infrastructure. Its purpose is to ensure responsible, long-term management of revenues from Norway's oil and gas resources so that this wealth benefits both current and future generations. It seeks to achieve the highest possible return in a safe, efficient, responsible and transparent manner, within government guidelines.

Media Contact:
Julie Ducworth, julie@jcdcommunications.com, 803.465.1198

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