Norway’s $1 trillion sovereign wealth fund looks set to join Saudi Arabia and Singapore in investing in unlisted companies by DavidGDawkins
Norway’s $1 trillion sovereign wealth fund looks set to join Saudi Arabia and Singapore in investing in unlisted companies as startups delay turning to public listings for capital.
Norway’s “Oil Fund” dates back to 1990 and currently holds more than $1 trillion in petroleum revenues reinvested in assets. With a population of over five million, the fund is worth an approximate $190,000 per person. Currently around 65% of assets are in equities with the rest in property and bonds.
Citing recent tech IPOs the letter claims that “the increased availability of capital for private companies means that raising capital is no longer necessarily the main aim of going public.” Adding, “An IPO is also an opportunity for founders, employees and other shareholders to realise their assets. This was clearly illustrated by the listing of Spotify in April 2018 and Slack in June 2019.
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