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Norway Appoints Professor to Oversee $830B Wealth Fund

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Amidst debate over tighter oversight (and suffering its biggest loss in four years), Norway has put central bank exec board member and professor Egil Matsen in charge of overseeing its $860B wealth fund.

Matsen, 46, has a six-year term with the newly created deputy governor position. He's served as a member of the board since 2012. Matsen teaches at the Norwegian University of Science and Technology and holds a PhD from the Norwegian School of Economics. 

The largest wealth fund in the world, the fund owns 1.3% of global stocks and is also the biggest non-North American buyer of US real estate. Back in April, the fund was allowed to buy infrastructure and explore more real estate.

The Norwegian fund recently closed on a deal to manage a New York church's $3.6B portfolio. Egil's start date has yet to be decided. [Bloomberg]