Argentum appoints Harald-Ingve Flagtvedt as new chief executive officer
Erlend Nordal becomes chief investment officer after a decade at the firm, while Flagtvedt succeeds outgoing leader Espen Langeland.
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Private equity fund manager
argentum.noLast updated
In short: Argentum finalized its sale to EGD Holding, appointed Harald-Ingve Flagtvedt as CEO, and secured a $2.5 billion data center deal.
Erlend Nordal becomes chief investment officer after a decade at the firm, while Flagtvedt succeeds outgoing leader Espen Langeland.
The sale was approved by the Storting in December 2025 and is now closed. EGD takes over Argentum Asset Management, Alternative Investments and Business Management. Strategy, management and team remain unchanged.
The sale includes Argentum Asset Management and other entities. EGD takes over ownership and manages the state's portfolio for at least seven years. The transaction requires the approval of the Storting.
The annual profit is 1.7 billion kroner with 12.2 percent return on the portfolio. It is the fourth year in a row with a billion result. CEO Espen Langeland praises the results.
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