IPEM Cannes 2024 – The Daily Spin – January, 25th
The shifting role of LPs was the overarching theme for the morning session of Day 2, at the 10th edition of IPEM in Cannes. After a full day of yoga,…
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Oil be back
We hear you but we’re not quite ready. That seems to be the message coming from Norway’s government, who have decided to not yet allow the country’s Oil Fund – one of the world’s biggest SWFs – to invest in private equity.
The fund’s investment manager, Norges Bank Investment Management, headed by CEO Nicolai Tangen, believe that this is a good time to begin allocating to private equity. But it’s not as though the government have given NBIM the cold shoulder…the fund’s management team have developed plans to add up to EUR64 billion of private equity investments over the next decade. So for now, it is a waiting game. Global PE groups will be hoping it’s not too long. In the (almost identical) words of The Terminator: “Oil be back.”
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