March 26, 2020 / 11:12 AM / 3 months ago

Norway names Nicolai Tangen as new head of sovereign wealth fund

OSLO (Reuters) - The new chief executive for Norway’s $930 billion sovereign wealth fund is Nicolai Tangen, until now chief executive of investment firm AKO Capital, which he established in 2005.

The new CEO was presented at a news conference at the central bank on Thursday.

The fund is the world’s largest of its kind, investing proceeds from Norway’s oil and gas industry in foreign stocks, bonds and real estate.

Reporting by Gwladys Fouche, editing by Terje Solsvik

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