Tag Archives: Nicolai Tangen

Reuters: Norway wealth fund says it’s hard to find right green energy projects

OSLO (Reuters) – Norway’s $1.1 trillion sovereign wealth fund, the world’s largest, is having trouble finding suitable unlisted renewable- energy projects to invest in due to the paucity of projects and strong competition for stakes in them, its new CEO said.

Such investments are new for the fund which, until this year, was only allowed to invest in stocks, bonds and real estate.

“In our experience so far, there are many investors looking for these investments and pricing is thus not always as attractive for us,” the fund’s new CEO, Nicolai Tangen, told a parliamentary hearing on Friday.

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Bloomberg: CEO of Norway’s Wealth Fund Has Too Much Cash for Banks

Norway’s banks can’t absorb the hundreds of millions of dollars in cash that the new CEO of the country’s wealth fund needs to deposit as part of an agreement he struck to allow him to take on the role.

Nicolai Tangen, who started running the world’s biggest sovereign investor last month, agreed to liquidate his personal fund investments and place the proceeds in bank deposits as part of his contract. The intention was to ensure that the former hedge fund manager wasn’t exposed to any conflicts of interest through his holdings.

Tangen’s bank deposits represent almost 8 billion kroner ($862 million), the Oslo-based wealth fund said on Thursday.

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Institutional Investor: Why Did a Hedge Fund Manager Worth $700 Million Take a $630,000-a-Year Job Managing an Oil Fund?

At 3:00 in the afternoon on Thursday, November 14, a small group of the world’s most powerful people prepared to board two chartered airplanes in two separate European capitals.

They were headed for Philadelphia for a weekend-long event that had been several years in the making for its creator, Nicolai Tangen, the Norwegian founder of one of Europe’s most successful hedge funds, London-based AKO Capital.

“You are all exceptional,” Tangen wrote in the program for the event. “You all want to extend your range and open your minds. But, like me, you may not always have sufficient time in your daily lives to do this, which is why I have had to whisk you away to learn not only from some of the world’s most inspiring speakers and professors, but also from each other.”

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Reuters: Hedge fund manager to lead Norway sovereign fund after $124 billion loss

OSLO (Reuters) – Norway’s sovereign wealth fund, the world’s largest, named a London-based hedge fund manager as its new chief executive on Thursday and said it had lost $124 billion (104 billion pounds) this year as stock markets tanked due to the coronavirus pandemic.

Norwegian-born Nicolai Tangen, until now chief executive of AKO Capital, which he established in 2005, will take the helm in September, succeeding Yngve Slyngstad who announced his resignation last year.

“Tangen has built up one of Europe’s leading investment firms and has delivered very good financial results as an international investment manager,” Norwegian central bank Governor Oeystein Olsen said while announcing the appointment.

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