Nicolai Tangen Secures Second Term at Helm of Norway's Wealth Fund

Nicolai Tangen has been reappointed as CEO of Norway's massive sovereign wealth fund. Tangen, who began his tenure in 2020, has proven effective in international investment management. The fund, valued at $1.8 trillion, continues to focus on global investments across various asset classes.

Nicolai Tangen has been appointed to a second term as the Chief Executive Officer of Norway's colossal sovereign wealth fund, according to an announcement by the central bank on Tuesday.

Tangen, 58, initially took on the role in September 2020 for a five-year stint. In November, he expressed his intention to continue as CEO, believing that his work with the sovereign wealth fund was far from complete. "Nicolai Tangen is highly experienced with in-depth insight into international investment management," stated central bank Governor Ida Wolden Bache.

The sovereign wealth fund, the largest of its kind globally, boasts an impressive $1.8 trillion in assets. It strategically invests the Norwegian state's oil and gas revenues across international bonds, stocks, real estate, and renewable projects.

(With inputs from agencies.)