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OSLO (Reuters) -Norway's $1.6 trillion sovereign wealth fund, the world's largest, should not be allowed to include private equity investments in its portfolio at this time, the government said on Friday, in a setback for the fund's management. Norway's central bank, which runs the fund via an asset management unit, last year recommended allocating up to 5% of assets to private equity investments, currently corresponding to about $80 billion. "We've concluded that we do not open to unlisted stocks at this time," Finance Minister Trygve Slagsvold Vedum told a press conference, citing higher fees, lower transparency of information, and the need for a broad political consensus.

Andrew cawthorneTerje solsvikNicolai tangenTrygve slagsvold vedumGwladys foucheMinister trygve slagsvold vedumFinance committeePrivate equity investmentsOvereign wealth fundTrygve slagsvold vedum