Marianne Ånestad Appointed CEO of Norled

CBRE Investment Management (CBRE IM) announces the appointment of Marianne Ånestad as the new CEO of Norled AS, the Norwegian ferry and express boat operator owned by funds managed by CBRE IM’s Private Infrastructure investment division.

Ånestad is a seasoned executive with extensive experience in strategic leadership, operational transformation and financial management in infrastructure businesses. Her extensive background includes leadership roles at Lyse As, including as CEO of Lyse NEO, CFO of Lnett As, and most recently as Executive Vice President - Infrastructure & Circular Energy at Lyse As. Prior to roles at Lyse, Ånestad held consulting and audit roles at DNB and Deloitte, respectively. She is expected to take on the CEO role at Norled by 1 December 2025.

“Marianne’s extensive leadership and transformation experience in capital-intensive, long asset life infrastructure businesses is very relevant to Norled as we continue to drive operational improvement in the Company,” said Tone Wille, Chair of Norled. “Her career thus far has demonstrated her ability to be analytical, execution-focused, and collaborative – all qualities we are looking for in our next leader."

“I am honoured to join Norled and look forward to working closely with the team to continue implementing improvement initiatives, strengthen our market position, and deliver reliable and high-quality travel experiences to our customers,” commented Ånestad.

“We welcome Marianne as the next leader of Norled,” commented Andreas Köttering, Head of Europe Private Infrastructure at CBRE IM. “Her strong track record positions her well to lead the next phase of Norled’s business plan.”

About Norled
Norled is one of Norway’s largest ferry and express boat companies. The company operates 25 contracts, and close to 80 vessels along the Norwegian coast. Norled was founded back in 1855 and has a history of innovation and is a pioneer when it comes to introducing sustainable maritime technology such as the world’s first electrical ferry and the world’s first ferry running on liquid hydrogen.

About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $155.3 billion in assets under management* as of June 30, 2025, operating in 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.

CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.

*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.