Asana Launches $500 Million Neighborhood Retail Venture with Norges Bank Investment Management

King & Spalding advised Asana Partners, LP, on its strategic partnership with Norges Bank Investment Management to form Asana Partners Strategic Partners I, LLC, a new venture that will invest in and operate high-quality core / core+ neighborhood retail assets throughout the United States.

The venture launched with a $500 million equity commitment from Norges Bank Investment Management and will target grocery-anchored centers, unanchored centers, street retail, and mixed-use assets in markets with attractive demographics, durable tenant demand, compelling consumer fundamentals, and opportunities for long-term value creation. The transaction is a notable expansion of Asana’s core / core+ investment platform, pairing Asana with one of the world’s premier institutional investors. 

The King & Spalding team was led by Mark Thigpen, John Wilson, Doug Elsbeck, Stephen Pacicco, Kate Kemper, Susannah Bakke, and Matt Lumia.

For more information, please see the press release by clicking here.