Fund Management

Norway’s oil fund and AP7 to lead class action against SVB

For the first time, Norway’s oil fund will lead a class action on behalf of a group of investors. The aim is to recover significant losses in relation to the bankruptcy of Silicon Valley Bank (SVB). 
Nicolai Tangen, CEO of NBIM and Carine Smith Ihenacho, chief governance and compliance officer at NBIM.
Nicolai Tangen, CEO of NBIM and Carine Smith Ihenacho, chief governance and compliance officer at NBIM.
by ANNE LOUISE HOUMANN

Norges Bank Investment Management (NBIM) and Swedish pension fund Sjunde AP-fonden (AP7) have been appointed by a U.S. court to serve as lead plaintiffs in an ongoing U.S. securities class action relating to Silicon Valley Bank (SVB), which went bankrupt earlier this year.

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