Norway sovereign fund beefs up to buy more real assets

[OSLO] Norway's US$890 billion sovereign wealth fund, the world's biggest, is building up its organisation and preparing for a move into infrastructure and private equity, its chief executive officer, Yngve Slyngstad, said.

The fund, in a strategy document released on Monday, revealed it was boosting its staff by about 60 per cent over the next three years to tackle increased investments in real estate and said it's preparing for more investments in assets "with income streams that grow in line with the global economy".

That means "real assets" such as property, private equity and infrastructure, Mr Slyngstad said on Monday. "We're always preparing the organisation for possible changes in the mandate," he said, adding that the final say lies with the government.