A repeat of the 2018 decision but at a very bad time points for start-ups and growth companies - a lost opportunity for all!
Again, the Norwegian government decided to block the Norwegian wealth fund to invest in private equity despite the recommendation from the funds management. This decision could not come at a worse time as a professional and well managed fund like the Norwegian wealth fund would have a positive impact for privately held start-ups and growth companies during a challenging financing climate. In a separate comment not quoted in this FT article, the Norwegian finance minister, Trygve Slagsvold Vedum, stated that "huge amount of money up to NOK 100M" (USD 9.1M) could be made by individuals in these kind of funds and companies. Is this again a sign of Norwegian politicians incompetency, lack of understanding and jealousy best summed up by Aksel Sandermose as the Law of Jante ("Janteloven")? And that they don't see the risks that these individuals have taken to create these values? Or is it really true that such change in the investment mandate would break with the underlying intentions of the fund? Feel free to comment! https://lnkd.in/d3wUaqWY