Norway’s wealth fund may be allowed to invest in unlisted stocks next year
Oslo — Norway’s government may allow its sovereign wealth fund, the world’s largest, to invest in private equity and unlisted stocks from next year, but said on Friday that it remains opposed to letting it invest in unlisted infrastructure projects. The fund, into which excess revenues from Norway’s oil and gas production are saved, is currently only permitted to invest in listed stocks, bonds and real estate. It can only invest in unlisted equities if an initial public offering is planned. Executives running the fund have previously pointed out that many rapidly growing firms, including Uber and Airbnb, were off-limits. "The [fund] cannot currently be invested in unlisted equities on a general basis. The ministry of finance intends to examine, prior to next year’s report on the management of the fund, whether such investments should be permitted," the ministry said in a white paper. The deputy finance minister later told Reuters the finance ministry was considering letting the fund...
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