SAN FRANCISCO (August 25, 2021) – Karsten Kallevig will join Prologis, Inc. (NYSE: PLD) as managing director, Global Strategic Capital, on October 1. In this role, Kallevig will oversee the company’s Strategic Capital business, which includes ten co-investment ventures in the U.S., Latin America, Europe and Asia. Under Kallevig’s leadership, Prologis, the global leader in logistics real estate, will look to further expand its Strategic Capital business through the growth of real estate holdings and private investment relationships.

Kallevig will report to Prologis chairman and CEO Hamid Moghadam. Previously, the Strategic Capital team reported to Gary Anderson, the company’s chief operating officer. As Anderson’s areas of responsibility demand more time, such as the company’s fast-growing Essentials business (which provides customers with access to products and services by taking advantage of Prologis’ scale), it made sense to create a new position focused exclusively on Strategic Capital.

Kallevig joined the real estate program at Norges Bank Investment Management (NBIM) at its inception in 2010 and built the team and a USD $30 billion real estate portfolio in the decade that followed. NBIM manages the 12.2 trillion Norwegian kroner (USD $1.4 trillion) Government Pension Fund Global, which is the world’s largest sovereign wealth fund.

“We’re delighted to have Karsten join the company. He knows the real estate and private investment business like few people I know,” said Moghadam. “We believe our Strategic Capital business has great potential for even more growth as we continue to acquire and develop properties in the world’s strongest centers of commerce.”

Kallevig served as NBIM’s chief investment officer for real estate and as CEO of Norges Bank Real Estate Management (NBREM). Most recently, he was special advisor to the CEO of NBIM. Kallevig previously held leadership roles with Grove International Partners and Soros Fund Management in Tokyo and London.

“Prologis has an extremely robust Strategic Capital business and is known for being a strong and forward-looking partner for private investors,” said Kallevig. “I look forward to helping the company continue to strengthen and grow its private investment business. The future is bright for investors who are interested in logistics real estate.”

About Prologis Strategic Capital

Prologis’ Strategic Capital business is an integral line of business for the company, with $82.7 billion* in assets under management. The company’s Strategic Capital business consistently demonstrates strong and sustained revenue growth. 

Prologis’ Strategic Capital business offers institutional investors a unique opportunity to invest with the company. Benefitting from the scale and scope of the Prologis platform, each of the company’s ten ventures focus on delivering industry-leading, risk-adjusted returns along with a superior investor experience. Prologis’ investment funds have specific geographic and risk profiles, and they target logistics real estate in high-consumption and high-barrier-to-entry markets.

Prologis is a material investor in all its Strategic Capital funds, with co-investment levels ranging from 15 percent to 55 percent. As a general partner, the company provides investors security through its durable A-rated balance sheet, best-in-class global portfolio and customer-centric focus.

*Data as of June 30, 2021. AUM is the fair value of real estate properties and development projects in the Strategic Capital business and includes our estimate of the gross value of real estate that could be acquired using existing equity commitments from Prologis and our partners assuming target leverage levels are used. Assets Under Management: Representing 48% of Prologis’ total AUM.

About Prologis

Prologis, Inc. is the global leader in logistics real estate with a focus on high-barrier, high-growth markets. As of June 30, 2021, the company owned or had investments in, on a wholly owned basis or through co-investment ventures, properties and development projects expected to total approximately 995 million square feet (92 million square meters) in 19 countries. Prologis leases modern logistics facilities to a diverse base of approximately 5,500 customers principally across two major categories: business-to-business and retail/online fulfillment.

Forward-Looking Statements

The statements in this document that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which we operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact our financial results. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," and "estimates," including variations of such words and similar expressions, are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to rent and occupancy growth, development activity, contribution and disposition activity, general conditions in the geographic areas where we operate, our debt, capital structure and financial position, our ability to form new co-investment ventures and the availability of capital in existing or new co-investment ventures — are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be attained and, therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) national, international, regional and local economic and political climates; (ii) changes in global financial markets, interest rates and foreign currency exchange rates; (iii) increased or unanticipated competition for our properties; (iv) risks associated with acquisitions, dispositions and development of properties; (v) maintenance of real estate investment trust status, tax structuring and changes in income tax laws and rates; (vi) availability of financing and capital, the levels of debt that we maintain and our credit ratings; (vii) risks related to our investments in our co-investment ventures, including our ability to establish new co-investment ventures; (viii) risks of doing business internationally, including currency risks; (ix) environmental uncertainties, including risks of natural disasters; (x) risks related to the current coronavirus pandemic; and (xi) those additional factors discussed in reports filed with the Securities and Exchange Commission by us under the heading "Risk Factors." We undertake no duty to update any forward-looking statements appearing in this document except as may be required by law.

INVESTORS:Tracy Ward, Tel: +1 415 733 9565, [email protected], San Francisco
MEDIA: Media Relations, Tel: +1 415 733 9409,  [email protected], San Francisco

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