The incoming chief of Norges Bank Investment Management, Nicolai Tangen, has finalised an agreement to cede the management of his fortune to a third party during his time in office.
Tangen has agreed with the firm Gabler to place his fund investments in a blind trust, said Norges Bank today (June 30).
In 2005, Tangen founded the London-based hedge fund AKO Capital. It now manages $18.1 billion and Tangen’s personal fortune is estimated at around $860 million.
The new agreement will come into
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