Under his leadership, the Petroleum Fund exceeded NOK 10,000 billion in value. He had his last day of work as head of the fund in 2020.
– All stars are correct, was the oil fund manager’s own answer to why he resigned.
Now it seems that the “stars” have led him to Kjell Inge Røkke’s company Aker.
In Aker, he will lead Aker Asset Management, Aker’s investment business.
– Aker and Aker Horizons have worked together to develop opportunities within active asset management and have made great strides in a short time. Yngve Slyngstad is a pioneer in active asset management, with impressive results, it is stated in a press release quoting CEO Øyvind Eriksen in Aker and CEO Kristian Røkke in Aker Horizons.
Sorry for the poor judgment
When Slyngstad went out with the news that he would resign in 2019, he was praised for his efforts with the fund. Under Slyngstad’s leadership, the oil fund had experienced extreme growth.
When Nicolai Tangen was announced as Slyngstad’s heir in 2020, Slyngstad had to apologize for poor judgment after a private event with the new leader.
Slyngstad regretted that he took a private plane home from Nicolai Tangen’s seminar.
He had recently announced that he would resign as head of the Petroleum Fund when he attended the seminar “Back To University”. As Tangen’s guest, he covered meals and accommodation and also traveled back on Tangen’s luxurious private plane.
– It was not in line with our modest profile. There was a lack of good judgment and a classic example of how not to be a professional, despite all my years of experience and care, he wrote in an internal message when the news became known.
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