News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Asset Management

Norway’s trillion-dollar fund pushes portfolio companies to diversify boards

Companies with less than 30% board representation will need to take action on diversity, NBIM said

Norwegian hedge fund manager and philanthropist Nicolai Tangen is seen in Oslo on May, 28 as the central bank of Norway (Norges Bank) invites to a press conference on the employment agreement for a new CEO of Norges Bank Investment Management. (Photo by Hk006fn Mosvold Larsen / NTB Scanpix / AFP) / Norway OUT (Photo by HAKON MOSVOLD LARSEN/NTB Scanpix/AFP via Getty Images)
Norwegian hedge fund manager and philanthropist Nicolai Tangen is seen in Oslo on May, 28 as the central bank of Norway (Norges Bank) invites to a press conference on the employment agreement for a new CEO of Norges Bank Investment Management. (Photo by Hk006fn Mosvold Larsen / NTB Scanpix / AFP) / Norway OUT (Photo by HAKON MOSVOLD LARSEN/NTB Scanpix/AFP via Getty Images) Photo: Getty Images

Norway’s sovereign wealth fund, which has more than $1.3tn in assets under management, has said its portfolio companies must increase diversity on their boards.

Norges Bank Investment Management said in a 15 February statement that the boards of its investments should “have a diversity of competencies and backgrounds” and “an appropriate gender balance”.

WSJ Logo