Norway $1.9 Trillion Sovereign Wealth Fund Norges Bank Investment Management (NGIM) to Invest $1.5 Billion in Brookfield Energy Transition Fund – Brookfield Asset Management Global Transition Fund II (BGTF II), Invests in Business Transformation, Clean Energy & Sustainable Solutions in North America, South America, Europe & APAC
27th September | Hong Kong
Norway $1.9 trillion sovereign wealth fund Norges Bank Investment Management (NGIM) has announced to invest $1.5 billion in Brookfield Asset Management energy transition fund – Brookfield Asset Management Global Transition Fund II (BGTF II), which invests in business transformation, clean energy & sustainable solutions in North America, South America, Europe & APAC. Announcement (26/9/25): “Since receiving the management mandate from the Ministry of Finance in 2019 to invest in unlisted renewable energy infrastructure, we have completed eight direct investments in European solar, onshore and offshore wind, and electricity transmission systems, as well as one indirect investment through a global renewable energy fund. We continue to build this portfolio and have now entered into an agreement for a second indirect investment through a fund, in line with our strategy for this period. On 25 September, we agreed to commit 1.5 billion US dollars to Brookfield Asset Management’s Global Transition Fund II (BGTF II). BGTF II focuses on business transformation, clean energy, and sustainable solutions aimed at accelerating the transition to a net-zero economy. The fund will invest across North America, South America, Europe, and Asia Pacific regions where Brookfield has established operational presence.” In 2025 August, Norway sovereign wealth fund Government Pension Fund Global reported $1.9 trillion AUM and portfolio return of +5.7% in 2025 1st half. Portfolio returns in 2025 1H: Equities +6.7%, Fixed Income +3.3%, Unlisted Real Estate +4% & Unlisted Renewable Energy Infrastructure +9.4%, Portfolio Allocation: 70.6% in Equities, 27.1% Fixed Income, 1.9% Unlisted Real Estate & 0.4% in Unlisted Renewable Energy Infrastructure. In 2025 March, Government Pension Fund Global was reported to be allocating to hedge funds with long /short equity strategy. In 2025 January, Government Pension Fund Global reported $1.7 trillion AUM and portfolio return of +13% in 2024. Portfolio returns in 2024: Equities +18%, Fixed Income +1%, Unlisted Real Estate -1% & Unlisted Renewable Energy Infrastructure -19%. Portfolio Allocation: 71.4% in Equities, 26.6% Fixed Income, 1.8% Unlisted Real Estate & 0.1% in Unlisted Renewable Energy Infrastructure. CEO Nicolai Tangen of Norges Bank Investment Management: “The fund achieved very good returns in 2024, as a result of a very strong stock market. The American technology stocks in particular performed very well.” In 2024, Norway sovereign wealth fund Government Pension Fund Global reported $1.5 trillion AUM and portfolio return of +16.1% in 2023. More info below:
“ Norway $1.9 Trillion Sovereign Wealth Fund Norges Bank Investment Management (NGIM) to Invest $1.5 Billion in Brookfield Energy Transition Fund – Brookfield Asset Management Global Transition Fund II (BGTF II), Invests in Business Transformation, Clean Energy & Sustainable Solutions in North America, South America, Europe & APAC “
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Harald von Heyden, Global Head of Energy and Infrastructure at Norges Bank Investment Management: ”This agreement marks our first investment in an energy transition fund. BGTF II will enable us to invest in projects that develop renewable energy infrastructure while also supporting the broader transition to low-carbon solutions across industries. After thorough due diligence on both investment and non-financial risks, we are confident in our selection of Brookfield as a partner for this important investment. Brookfield has established itself as a global leader in the energy transition space, managing one of the world’s largest renewable energy portfolios.”
Norway Sovereign Wealth Fund Government Pension Fund Global Reports $1.9 Trillion AUM & Portfolio Return +5.7% in 2025 1st Half, Equities +6.7%, Fixed Income +3.3%, Unlisted Real Estate +4% & Unlisted Renewable Energy Infrastructure +9.4%, Portfolio Allocation: 70.6% in Equities, 27.1% Fixed Income, 1.9% Unlisted Real Estate & 0.4% in Unlisted Renewable Energy Infrastructure
12th August – Norway sovereign wealth fund Government Pension Fund Global has reported $1.9 trillion AUM and portfolio return of +5.7% in 2025 1st half. Portfolio returns in 2025 1H: Equities +6.7%, Fixed Income +3.3%, Unlisted Real Estate +4% & Unlisted Renewable Energy Infrastructure +9.4%, Portfolio Allocation: 70.6% in Equities, 27.1% Fixed Income, 1.9% Unlisted Real Estate & 0.4% in Unlisted Renewable Energy Infrastructure. In 2025 March, Government Pension Fund Global was reported to be allocating to hedge funds with long /short equity strategy. In 2025 January, Government Pension Fund Global reported $1.7 trillion AUM and portfolio return of +13% in 2024. Portfolio returns in 2024: Equities +18%, Fixed Income +1%, Unlisted Real Estate -1% & Unlisted Renewable Energy Infrastructure -19%. Portfolio Allocation: 71.4% in Equities, 26.6% Fixed Income, 1.8% Unlisted Real Estate & 0.1% in Unlisted Renewable Energy Infrastructure. CEO Nicolai Tangen of Norges Bank Investment Management: “The fund achieved very good returns in 2024, as a result of a very strong stock market. The American technology stocks in particular performed very well.” In 2024, Norway sovereign wealth fund Government Pension Fund Global reported $1.5 trillion AUM and portfolio return of +16.1% in 2023. More info below:
“ Norway Sovereign Wealth Fund Government Pension Fund Global Reports $1.9 Trillion AUM & Portfolio Return +5.7% in 2025 1st Half, Equities +6.7%, Fixed Income +3.3%, Unlisted Real Estate +4% & Unlisted Renewable Energy Infrastructure +9.4%, Portfolio Allocation: 70.6% in Equities, 27.1% Fixed Income, 1.9% Unlisted Real Estate & 0.4% in Unlisted Renewable Energy Infrastructure “
Norway Sovereign Wealth Fund $1.7 Trillion Government Pension Fund Global to Allocate to Hedge Funds with Long / Short Equity Strategy, Portfolio Return of +13% in 2024, Equities +18%, Fixed Income +1%, Unlisted Real Estate -1% & Unlisted Renewable Energy Infrastructure -10%, Portfolio Allocation of 71.4% in Equities, 26.6% Fixed Income, 1.8% Unlisted Real Estate & 0.1% in Unlisted Renewable Energy Infrastructure
6th March 2025 – Norway sovereign wealth fund Government Pension Fund Global ($1.7 trillion AUM) is allocating to hedge funds with long /short equity strategy. In 2025 January, Government Pension Fund Global reported $1.7 trillion AUM and portfolio return of +13% in 2024. Portfolio returns in 2024: Equities +18%, Fixed Income +1%, Unlisted Real Estate -1% & Unlisted Renewable Energy Infrastructure -19%. Portfolio Allocation: 71.4% in Equities, 26.6% Fixed Income, 1.8% Unlisted Real Estate & 0.1% in Unlisted Renewable Energy Infrastructure. CEO Nicolai Tangen of Norges Bank Investment Management: “The fund achieved very good returns in 2024, as a result of a very strong stock market. The American technology stocks in particular performed very well.” In 2024, Norway sovereign wealth fund Government Pension Fund Global reported $1.5 trillion AUM and portfolio return of +16.1% in 2023. More info below:
Norway Sovereign Wealth Fund Government Pension Fund Global Reports $1.7 Trillion AUM & Portfolio Return of +13% in 2024, Equities +18%, Fixed Income +1%, Unlisted Real Estate -1% & Unlisted Renewable Energy Infrastructure -10%, Portfolio Allocation of 71.4% in Equities, 26.6% Fixed Income, 1.8% Unlisted Real Estate & 0.1% in Unlisted Renewable Energy Infrastructure
29th January 2025 – Norway sovereign wealth fund Government Pension Fund Global has reported $1.7 trillion AUM and portfolio return of +13% in 2024. Portfolio returns in 2024: Equities +18%, Fixed Income +1%, Unlisted Real Estate -1% & Unlisted Renewable Energy Infrastructure -19%. Portfolio Allocation: 71.4% in Equities, 26.6% Fixed Income, 1.8% Unlisted Real Estate & 0.1% in Unlisted Renewable Energy Infrastructure. CEO Nicolai Tangen of Norges Bank Investment Management: “The fund achieved very good returns in 2024, as a result of a very strong stock market. The American technology stocks in particular performed very well.” In 2024, Norway sovereign wealth fund Government Pension Fund Global reported $1.5 trillion AUM and portfolio return of +16.1% in 2023. More info below:
Norway Sovereign Wealth Fund Government Pension Fund Global Reports $1.5 Trillion AUM & Portfolio Return of +16.1% in 2023, Equities +21.3%, Fixed Income +6.1%, Unlisted Real Estate -12.4% & Unlisted Renewable Energy Infrastructure +3.7%, Portfolio Allocation of 70.9% in Equities, 27.1% Fixed Income, 1.9% Unlisted Real Estate & 0.1% in Unlisted Renewable Energy Infrastructure
1st February 2024 – Norway sovereign wealth fund Government Pension Fund Global has reported $1.5 trillion AUM (Assets under Management) and portfolio return of +16.1% in 2023. Portfolio returns in 2023: Equities +21.3%, Fixed Income +6.1%, Unlisted Real Estate -12.4% & Unlisted Renewable Energy Infrastructure +3.7%. Portfolio Allocation: 70.9% in Equities, 27.1% Fixed Income, 1.9% Unlisted Real Estate & 0.1% in Unlisted Renewable Energy Infrastructure. CEO Nicolai Tangen of Norges Bank Investment Management: “Despite high inflation and geopolitical turmoil, the equity market in 2023 was very strong, compared to a weak year in 2022. Technology stocks in particular performed very well.” More info below:
Norway Sovereign Wealth Fund Government Pension Fund Global Reports $1.5 Trillion AUM & Portfolio Return of +16.1% in 2023
30th January 2024 – The return on the fund’s equity investments was 21.3 percent, the return on the fixed income investments was 6.1 percent, whereas investments in unlisted real estate returned -12.4 percent. The return on unlisted renewable energy infrastructure was 3.7 percent. The fund’s return was 18 basis points lower than the return on the benchmark index. The krone depreciated against several of the main currencies during the year. The currency movements contributed to an increase in the fund’s value of 409 billion kroner. Inflow into the fund amounted to 711 billion kroner. The fund had a value of 15,765 billion kroner as of 31 December 2023. 70.9 percent of the fund was invested in equities, 27.1 percent in fixed income, 1.9 percent in unlisted real estate, and 0.1 percent in unlisted renewable energy infrastructure.
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