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Norway's USD 1.1 trillon fund says infrastructure looks pricey

The chief executive officer of Norway’s USD 1.1 trillion sovereign wealth fund said infrastructure assets that it was cleared to start buying last year are starting to look too pricey to be of interest.

Last year, Norway’s parliament finally gave the fund permission to move ahead with its plan, allowing the investor to target unlisted infrastructure in renewable energy. Photo: PR Obton

"In our experience so far, there are many investors looking for these investments and pricing is thus not always as attractive for us," Nicolai Tangen, who started as CEO in September, said at a hearing in parliament on Friday, according to a statement with his prepared remarks.

Norway’s wealth fund, which currently only holds stocks, bonds and real estate, had been lobbying for years to be allowed to add infrastructure to the list of assets it can invest in.

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