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VIDEO: Don’t Look for Norway’s $20 Billion Oil Windfall to Flow to Private Equity

Norway’s giant sovereign wealth fund, the $575 billion Government Pension Fund, anticipates a windfall this year of more than $20 billion due to sky-high oil prices.

Martin Skancke, director general of the asset management department of Norway’s Ministry of Finance, tells Nick Edwards of Reuters that this windfall will soon have be invested in a variety of asset classes, although the country’s much-discussed possible entry into the private equity market seems to be on the back burner for now.