Once we invest in a company, we typically stay with it for a very long time. We haven't officially stated our investment horizon, but you could argue it's 50 to 100 years.
— Emil Framnes Global Head of Equity Trading and Transition, NBIM

NBIM manages the Norwegian Sovereign Wealth Fund, the world's largest SWF - $2 trillion, of which $1.4 trillion is invested in public equities, across more than 8000 companies globally. NBIM is also one of the world's most active investors in IPOs, with more than 100 IPO investments in 2024.

Emil Framnes, the fund's Global Head of Equity Trading and Transition, has been with NBIM for almost 20 years and oversees all the fund's trading in equities, ensuring that the fund can efficiently deploy and adjust capital at massive scale. With an investment horizon measured in decades, NBIM approaches new listings and secondary offerings differently from many other market participants, making Emil's perspective particularly interesting for companies considering an IPO.

Disclaimer: The discussion in this episode is not financial advice, nor an investment recommendation, nor a solicitation to buy or sell any financial instruments or an offer for financial services or any other transaction. The information contained in the recording has no contractual value and is intended for informational purposes only. Amundsen Investment Management and the participants in this podcast may have holdings in the companies being discussed. Any views expressed are those of the guests only, and not of Amundsen Investment Management.

In this episode
Emil Framnes
Emil Framnes
Global Head of Equity Trading and Transition, NBIM

Emil Framnes is Global Head of Equity Trading and Transition at Norges Bank Investment Management (NBIM), the manager of the Norwegian Sovereign Wealth Fund — the world's largest at roughly $2 trillion — where he has overseen all equity trading for nearly 20 years. NBIM is one of the world's most active IPO investors, participating in more than 100 IPOs in 2024, giving Framnes a uniquely large-scale perspective on how new listings are assessed and executed.

Hosted by
Per Einar Ellefsen
Per Einar EllefsenLinkedIn
Co-founder and CEO, Amundsen Investment Management

Per is co-founder and CEO of Amundsen Investment Management. Prior to founding Amundsen, Per was Global Head of Equity Enhanced Indexing at Norges Bank Investment Management (the Norwegian Sovereign Wealth Fund), where he oversaw the management of the fund's $700bn equity index portfolio, invested across 9000+ companies globally. Per is an engineer by training, with a Master of Science from Ecole Polytechnique in France and MIT in the US. Per serves as a member of AMF's consultative committee on Disclosures and Corporate Finance, FTSE Russell’s EMEA Regional Advisory Committee, and Euronext Oslo's index advisory committee.

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