Norges Bank to Again Examine Unlisted Equity for Norway’s Sovereign Wealth Fund

Posted on 04/01/2023

On March 31, 2023, Norway’s Ministry of Finance delivered its white paper The Government Pension Fund 2023 to the Storting.

The wealth fund again mentioned the possibility of investing in unlisted equity aka private equity.

The letter says, “Norges Bank may currently invest the GPFG in unlisted real estate and unlisted renewable energy infrastructure, but the mandate does not on a general basis allow for investments in unlisted equities. The Committee chaired by Ulf Sverdrup discussed various characteristics of unlisted investments. In its consultative comments, Norges Bank noted that an increasing share of global economic activity takes place in unlisted companies. The Bank has in a letter of 27 March 2023 been requested to examine various aspects of unlisted equities, as a basis for the Ministry’s further consideration.”

Norges Bank Investment Management manages Norway Government Pension Fund Global.

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