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Norges Bank recommends opening up for investments in unlisted equities

Norges Bank's Executive Board has submitted its recommendation to the Ministry of Finance to permit the Government Pension Fund Global to invest in unlisted equities.

28 November 2023

"It is our assessment that permitting investments in unlisted equities would be a natural evolution of the investment strategy. An increasingly larger share of global value creation takes place in the unlisted market. We believe that such an opening could give higher returns for the fund over time. We think it will be possible to invest in unlisted equities in a way that meet our expectations on transparency and responsibility", says Ida Wolden Bache, Chair of Norges Bank's Executive Board.

The fund will approach investment opportunities and build competence gradually, should the Ministry of Finance permit the fund to invest in unlisted equities. We have good experience with a gradual approach from the fund's other unlisted investments.

Press contacts:
Marthe Skaar
Chief of Communications and External Relations
Norges Bank Investment Management

Line Aaltvedt
Head of Media
Norges Bank Investment Management


Press seminar 28 November at 10:00 CET

Chair of the Executive Board Ida Wolden Bache, CEO of Norges Bank Investment Management Nicolai Tangen and Deputy CEO Trond Grande presented the key points of the Executive Board's recommendation to the Ministry of Finance. The press seminar was in Norwegian.

Read the submissions to the Ministry of Finance