Any move by the Norwegian
wealth fund to offload its fossil fuel assets would send shockwaves around global markets, given that the
fund, itself built on the country's
offshore oil and gas revenues, holds an estimated 1.3 per cent of global market capitalisation.
The portfolio was purchased from TPG - Austin Portfolio Syndication Partners, a venture among Lehman Brothers Holdings Inc. (50 percent), an
offshore sovereign
wealth fund (25 percent) and TPG / CalSTRS, LLC (25 percent).