Ares Management has secured a €1.5B (£1.25B) equity commitment from Norges Bank Investment Management for a new European logistics investment partnership targeting warehouse assets and development opportunities across the continent.

The partnership will focus on existing properties and development opportunities across logistics facilities serving supply chains, distribution and e-commerce located near major European commercial centres.

It marks the first collaboration between Ares and Norges, which manages Norway’s Government Pension Fund Global. Norges will own 96% of the venture, it said.

Norges has a logistics portfolio across Europe and the U.S. valued at about £9.5B, built up in partnership with managers including Prologis and Blackstone. The Ares partnership gives Norges another route into the sector through an established operating platform, the pair said.

Ares will use Marq Logistics, its integrated global logistics real estate platform, to identify, develop and manage assets. The platform manages more than 2,250 properties spanning over 655M SF globally.

“Ares is an experienced investor and developer with a strong presence in Europe's major logistics markets, and has a good track record of creating value for its investment partners,” Norges Bank Investment Management Global Head of Real Estate Alex Knapp said in a statement.

Ares European Logistics Head Daan van den Hoven added that structural trends in the sector continue to support demand for modern facilities.

“Demand for modern, well-located logistics facilities continues to be supported by powerful structural trends, and we believe we can capitalise on compelling opportunities through thoughtful asset selection and management,” he said in a statement.

The partnership comes as Ares expanded its logistics investment and operating platform after acquiring the international business and affiliates of GLP Capital Partners, which closed in March 2025. Ares subsequently consolidated its logistics operations under the Marq Logistics brand.

The platform has continued to invest in Europe. In May, Ares acquired a five-property Polish logistics portfolio spanning approximately 3.1M SF from Savills Investment Management.