Norway's giant $1tn sovereign wealth fund has promoted two of its real estate managers to lead an expansion of its investment efforts in property — as it doubles down on its original real estate investment in London.

The Government Pension Fund has promoted Per Løken and Romain Veber to the new roles of chief investment officers for the US and Europe, respectively. Løken has been acting chief investment officer for real estate since the start of 2016, when his predecessor in that role, Karsten Kallevig, became chief executive of the real estate arm.