Organisasjon

Norfund har hovedkontor i Oslo og regionkontorer i Afrika, Asia og Latin-Amerika.

Styringsstruktur

Norfunds styringsstruktur definerer hvordan fondet blir ledet, fulgt opp og holdt ansvarlig, og sikrer at virksomheten vår er i tråd med mandatet vårt og føringene fra Stortinget.

Stortinget

opprettet Norfund gjennom Norfund-loven i 1997. Norfund finansieres fullt ut over det norske bistandsbudsjettet. Stortinget godkjenner Norfunds årlige kapitaltilførsel.

Utviklingsministeren

har det konstitusjonelle ansvaret for Norfund. Utviklingsministeren utgjør generalforsamlingen og utøver fondets øverste myndighet. Generalforsamlingen godkjenner Norfunds vedtekter og velger styr

Styret

oppnevnes av generalforsamlingen og sørger for at Norfund opererer i samsvar med Norfund-loven og vedtektene. Styret fastsetter Norfunds strategi, ansetter administrerende direktør og godkjenner investeringer som overstiger fastsatte terskelverdier.

Ledergruppen

har ansvar for å sikre at virksomheten er i tråd med Norfunds mandat og investeringsretningslinjer. Ledergruppen har ansvar for den daglige driften og sørger for at Norfunds portefølje leverer bærekraftige utviklingseffekter og gode finansielle resultater.

Kontorer

Med hovedkontor i Oslo og regionkontorer i Bangkok, Nairobi, Cape Town, Accra og San José er vi tett på markedene der vi investerer. Den lokale tilstedeværelsen gjør oss i stand til å identifisere nye muligheter, følge opp eksisterende investeringer og gi sektorteamene førstehånds innsikt i lokale forretningsmiljøer og politiske forhold.

Hovedkontor

Norfunds hovedkontor har siden 1997 ligget i sentrum av Oslo.

Øst-Afrika

Regionkontoret vårt for Øst-Afrika åpnet i 2007 og ligger i Nairobi i Kenya.

Vest-Afrika

Regionkontoret vårt for Vest-Afrika, etablert i 2018, ligger i Accra i Ghana.

Sørlige Afrika

Regionkontoret vårt for det sørlige Afrika ble etablert i 2003, flyttet fra Mosambik til Sør-Afrika i 2020, og vil flytte fra Cape Town til Johannesburg i 2026.

Asia

Regionkontoret vårt for Asia ligger i Bangkok i Thailand.

Latin-Amerika

Regionkontoret vårt for Latin-Amerika ligger i San José i Costa Rica.

Landfokus

Øst-Afrika

Særlig fokus på Kenya, Uganda, Tanzania, Rwanda, Kamerun og Etiopia. Kan også investere i Somaliland, Sør-Sudan, DR Kongo og Burundi.

Vest-Afrika

Særlig fokus på Ghana, Nigeria, Elfenbenskysten og Senegal. Kan også investere i andre land i Vest-Afrika i samarbeid med andre investorer og fond.

Sørlige Afrika

Særlig fokus på Sør-Afrika, Mosambik, Zambia, Zimbabwe, Malawi og Namibia.

Asia

Særlig fokus på Vietnam, Indonesia, Bangladesh, Sri Lanka, Kambodsja, Laos og Myanmar. Vi kan også investere på Filippinene, i India og Nepal i samarbeid med våre strategiske medinvestorer.

Latin-Amerika

De prioriterte landene i regionen er Colombia, Guatemala, Honduras, Nicaragua, Ecuador, El Salvador og Den dominikanske republikk.

Ledergruppen

Har ansvar for å sikre at virksomheten er i tråd med Norfunds mandat og investeringsretningslinjer. Har det overordnede ansvaret for den daglige driften og sørger for at Norfunds portefølje leverer bærekraftige utviklingseffekter og gode finansielle resultater.

Erik Sandersen

Chief Executive Officer

Erik joined Norfund in 2014 and has represented Norfund on several boards of banks and microfinance institutions. He is currently a board member of the South Africa-based bank investment firm Arise and of the Nordic Microfinance Initiative. Prior to joining Norfund, Erik worked for 10 years as a co-founder and partner in a venture capital firm in the Nordic region. He has also worked as an executive in the IT sector and for the Boston Consulting Group in London and Oslo. He holds a master’s degree in engineering from the Norwegian University of Science and Technology (NTNU) and an MBA from Stanford University.

Mark Davis

Chief Investment Officer

Mark has worked extensively with renewable energy investments, regulation and policy in developing countries, with a focus on Africa. He holds a D.Phil from the University of Sussex, and earlier degrees in mathematics and applied science from the University of Cape Town. Prior to joining Norfund he was a partner at ECON Analysis, and previously was Postgraduate Director at the Energy & Development Research Centre, University of Cape Town.

Naana Winful Fynn

Executive Vice President, Financial Inclusion

Naana har de siste ni årene vært Norfunds regiondirektør for Vest-Afrika, der hun har ledet investeringene i regionen og teamet i Accra. Hun har også vært medlem av Norfunds kredittkomité de siste fem årene. Før hun begynte i Norfund hadde Naana roller i Goldman Sachs, investeringsselskapet Sagevest Holdings, CVS Corporation og The Timberland Company. Hun har vært styremedlem i Ghana Stock Exchange og sementprodusenten CBI Ghana, og medlem av det rådgivende investeringsstyret for Ghana Petroleum Funds, Ghanas statlige investeringsfond. Hun er medlem av Africa Advisory Board ved Harvard Business School. Hun har en MBA fra Harvard Business School og en bachelorgrad i økonomi fra Vassar College.

Ellen Cathrine Rasmussen

Executive Vice President, Green Infrastructure and Scalable Enterprises

Ellen Cathrine Rasmussen joined Norfund as EVP for Scalable Enterprises in March 2020. In 2021 she also took on the role of EVP for Green Infrastructure. Prior to Norfund, Ellen held several senior positions at Yara, the world’s leading fertilizer company. Her last position in Yara was as VP of Sustainability Programs and Global Projects. Prior to that, she was country manager for the Ivory Coast. Earlier in her career Ellen spent four years as EVP for Agrinos, an international agriculture input provider, responsible for Europe, Middle East, Africa and Asia. Ellen has also had various management positions at Norsk Hydro and served as a board member for SINTEF. She studied economics in Norway and France.

Bjørnar Baugerud

EVP Renewable Energy

Bjørnar Baugerud holds a Master of Science in Business Administration (finance) from the Norwegian School of Economics (NHH) and is a Chartered Financial Analyst (CFA). He began his career in the Norwegian Army in 1995 and later worked at Elkem and KPMG, where he managed financial due diligence and M&A advisory projects. From 2008 to 2019, he held several senior investment roles at Norfund, including Head of the Climate Investment Fund, managing renewable energy investments across emerging markets. He has also completed Ph.D. coursework in financial economics at NHH and an Executive Board Program at INSEAD.

Ylva Lindberg

EVP Strategy & Communication

Prior to joining Norfund, Ylva was founding partner of SIGLA, a boutique consultancy on sustainability and business, for 13 years. She has worked with sustainable and impact investments for almost 20 years and has experience with asset management and consumer goods. Ylva is a senior associate of the University of Cambridge Institute for Sustainability Leadership, board member of Lærdal Medical and member of the Responsible Investment Advisory Council of BMO Global Asset Management.

Fride Andrea Hærem

Chief Financial Risk Officer & Head of HR

Fride Andrea Hærem took the position as CFRO and Head of HR in Norfund in 2021. Before joining Norfund, she was EVP for HR, Marketing and Communication, IT and Strategy at Norconsult. She has more than 10 years of experience in HR directorship roles and has held several finance manager positions, including at Posten and Cermaq. She holds a Master of Management with a specialisation in international business leadership from BI Norwegian Business School.

Thomas Fjeld Heltne

Executive Vice President, General Counsel

Thomas Fjeld Heltne took the position as General Counsel in Norfund in 2019. Before joining Norfund, he was Director M&A at Norsk Hydro. Heltne has throughout his career worked with transactions, financing and international projects, both from the legal and commercial side. He holds a degree in law from Norway as well as a Master of Laws from LSE and Corporate Finance from the Norwegian School of Management. Heltne has been member of and observer to boards of Norwegian industrial companies and served on the Trade Policy Panel for the Confederation of Norwegian Enterprise (NHO).

Styret

Styret sørger for at fondet opererer i samsvar med Norfund-loven av 1997 og fondets vedtekter. Styret fastsetter Norfunds strategi og godkjenner enkeltinvesteringer som overstiger fastsatte terskelverdier. Øvrige investeringsbeslutninger er delegert til administrerende direktør.

Norfunds styre oppnevnes av generalforsamlingen. Generalforsamlingen utgjøres av Norges utviklingsminister, som forvalter statens eierskap i Norfund.

Sofie Kamsvåg

Vegard Benterud

Kiran Aziz

Director

Kiran Aziz is Head of Responsible Investments at KLP Asset Management and joined KLP 1^st of July 2019. She is responsible for ownership and responsible investment activities. Prior to joining KLP, Ms Aziz was a lawyer, lecturer and researcher. She also has extensive board experience. She is among on board for Norwegian Refugee Council which is a humanitarian organization for displaced people and Dagbladet which is one of Norway’s largest newspapers. She is also a columnist for online newspaper for finance and business at E24 in Norway. Ms Aziz holds a law degree from the University of Oslo and an Executive course from Harvard Business School.

Pablo Barrera

Director

Pablo Barrera is CEO of Haugaland Kraft AS. He has experience from Yara and The Boston Consulting Group. Before joining Haugaland Kraft he was managing director of IMAGINE Food Collective, a value chain collaboration for the largest global private players in food and agriculture, where he was on loan from Yara. He was a member of Yara group management from 2018 to 2021, and before that he was country manager for Yara’s operations in Chile.

Anne Jorun Aas

Director

Anne Jorun Aas is the CEO of Farmforce AS, an agritech SaaS company that digitize data from smallholder farming. She also serves on the board of Envipco, a reverse vending machine technology company. Previous positions include COO of Scatec, SVP of Scatec Solar, interim CEO of Kjeller Innovasjon and McKinsey. She has significant board experience from listed and private companies including serving as Board Chair of EnergiX, a large program in the Norwegian Research Council. She holds a PhD in nuclear chemistry from the University of Oslo and CERN, Geneva.

Jarle Roth

Director

Jarle Roth is the Board Chairman of Equinor and Storebrand. He has previously served as CEO of Umoe, Arendals Fossekompani, Export Credit Norway, and Unitor, as well as director of the Fram Museum. He has also been Board Chairman of Hafslund, Norske Skog ASA, Enova SF, Glamox AS, Powel AS and EFD Induction AS; and a board member of Umoe, Kongsberg Gruppen ASA, Hafslund, Ekornes ASA, Multiconsult AS, Kverneland ASA, Awilco Offshore ASA, Grieg Shipping AS, and Aibel AS.

Åslaug Haga

Director

Åslaug M. Haga is currently the CEO of Renewables Norway – the Norwegian wind power association. She has background from foreign service, national politics, private sector and international organizations. Haga has been State Secretary in the MFA and at the prime minister’s office. She has held three ministerial cabinet positions in the Ministries of culture, local & regional affairs and oil & energy. She has also been a member of Parliament. She has served in various positions in the MFA – including postings at the Norwegian Mission to the UN in New York and the embassy in New Delhi. Before joining Renewables Norway, she was the Executive Director of the Global Crop Diversity Trust and Assistant Secretary General in the International Fund for Agricultural Development. From 2016 to 2020 she was Chair of the board for the Peace Research Institute Oslo. Haga was appointed to the Norfund board in August 2022.

Øyvind Ørbeck Sørheim

Director

Øyvind Ørbeck Sørheim is the Managing Director of The Royal Norwegian Society for Development. He has extensive experience in international development, with a career spanning public-private partnerships, multilateral organizations, civil society, and entrepreneurship. His work has focused particularly on strengthening resilient and inclusive food value chains that create opportunities for local producers and businesses.

Before joining The Royal Norwegian Society for Development, he held various positions in Norad, the foreign service, and the United Nations. His international experience includes postings in Ethiopia and Côte d’Ivoire.

He also brings solid board experience, having served as both chair and board member for several organizations. Ørbeck Sørheim holds an MSc in Sociology from the University of Oslo.

Olaug Svarva

Board Chair

Olaug Svarva was the CEO of the Government Pension Fund Norway (Folketrygdfondet) from 2006 to 2018. Today, Svarva is Chair of the Board in DNB and she has also served as board member of Investinor, Institute of International Finance (IIF), and The Norwegian memorial foundation for Alfred Nobel. From 2001 to 2006, she held positions as CEO & Investment Director at SpareBank 1 Aktiv Forvaltning and SpareBank 1 Livsforsikring. Svarva holds a Bachelor of Science in Business Administration and an MBA from the University of Denver. She is also authorized as a portfolio manager by the Norwegian Society of Financial Analysts. Appointed Chair of the Board of Norfund in June 2019.

Avdelinger

Norfund har fire sektormessige investeringsavdelinger som følger prosjektene gjennom alle faser av investeringsprosessen. Dette inkluderer egne medarbeidere som arbeider med miljø- og samfunnsforhold (E&S).

Fornybar energi

Øke tilgangen til energi

Finansiell inkludering

Utvide tilgangen til finansiering

Vekstkraftige virksomheter

Bygge selskaper og skape jobber

Grønn infrastruktur

Forbedre grunnleggende infrastruktur

Strategi og kommunikasjons-avdelingen leder utarbeiding og gjennomføring av strategien, analyserer utviklingseffekter og additionalitet. Avdelingen arbeider også med likestilling, klima og media. I tillegg har den ansvar for interessenthåndtering og kommunikasjon, samt dialogen med Norfunds eier, Utenriksdepartementet.

Finans-, IT-, risiko- og HR-avdelingen har ansvar for Norfunds regnskap, finansiell analyse og porteføljerapportering, samt rekruttering, kompetanseutvikling og medarbeiderutvikling. Avdelingen har også ansvar for Enterprise Risk Management, IT, Business Support og Frontier Facility.

Den juridiske avdelingen har ansvar for juridiske forhold og etterlevelse av regelverk.

Investeringskomitéer

Norfunds investeringskomiteer beslutter investeringer og exits innenfor delegerte fullmakter. Ledelsen godkjenner investeringer opp til USD 6 millioner. Investeringer mellom USD 6 millioner og USD 20 millioner, samt kommersielle exits, besluttes av den aktuelle komiteen. Forslag over USD 20 millioner behandles i en komité og legges frem for styret for endelig godkjenning.

For å gjenspeile omfanget og bredden i Norfunds virksomhet er dette arbeidet fordelt på tre komiteer: én for investeringer i finansinstitusjoner og fondsinvesteringer, én for direkteinvesteringer innen fornybar energi, skalerbare bedrifter og grønn infrastruktur, og én for restruktureringer, exits og oppfølgingsinvesteringer i problemengasjementer.

Hver komité ledes av et medlem av ledelsen og består av interne medlemmer fra hele organisasjonen og eksterne medlemmer med relevant investeringserfaring.