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Norway wealth fund to hand USD 60 billion to external managers

Norway’s USD 1.2 trillion sovereign wealth fund, the world’s biggest, is raising the cap on external managers after its new chief executive officer made clear he wants more outsiders to help oversee investments.

Nicolai Tangen (left), the fund’s 54-year-old CEO since September and a former hedge fund manager, told Bloomberg earlier this year he’s keen to step up reliance on external managers because he thinks it’s a strategy that can "generate a significant surplus return." | Photo: Gwladys Fouche/Reuters/Ritzau Scanpix/REUTERS / X03825

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