Economics
World’s Biggest Wealth Fund Loses Taste for New Assets
- Wealth fund CEO says infrastructure now not important question
- Fund’s sheer size makes finding big enough markets a challenge
Yngve Slyngstad
Photographer: Krister Sorbo/BloombergThis article is for subscribers only.
The world’s biggest sovereign fund says expanding into new asset classes is now hardly worth the effort.
That means the opportunities for raising returns that Norway’s wealth fund once saw in infrastructure and private equity (and spent years trying to get political approval to buy) no longer exist, according to Yngve Slyngstad, the chief executive officer of the investor.