Financial results
Profitability is essential for the creation of sustainable jobs and lasting development effects.
Norfund enhance profitability and development effects through active ownership and business development support.
Committed portfolio and capital composition (billion NOK)
Commitments
8.4 billion
new commitments (NOK)
45.5 billion
total portfolio (NOK)
Mobilisation and costs
17.8 billion
mobilised private capital (NOK)
attributed according to OECD Methodology (preliminary estimation)
1.16 %
operating cost
of committed portfolio
IRR
Internal rate of return
7.8 %
in 2025, across mandates
in investment currency
5.3 %
since inception, across mandates
in investment currency
13.3 %
since inception, Climate Investment Fund
in investment currency
5.2 %
since inception, Development Mandate
in investment currency
In 2025, Norfund had an Internal Rate of Return (IRR) across the mandates calculated in investment currency of 7.6%, compared to 8.3% in 2024. Calculated in NOK, Norfund obtained an IRR of -3% during 2025, compared to 19.7% in 2024.
Since inception, the IRR across mandates is 5.3% in investment currency and 7.8% in NOK.
The development mandate, had an Internal Rate of Return (IRR) calculated in investment currency of 7.2% in 2025, compared to 8.3% in 2024. Since inception, the IRR for the mandate is 5.2% in investment currency and 7.7% in NOK.
