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In September 2020, he will become the chief executive officer (CEO) at Norges Bank Investment Management, responsible for managing the Norwegian Sovereign Wealth Fund (Statens Pensjonsfond Utland).

In March 2020, it was announced that Tangen would replace Yngve Slyngstad as CEO of Norges Bank Investment Management in September 2020. Tangen will be responsible for investing the Norwegian Sovereign Wealth Fund, which is the world’s largest sovereign wealth fund.

In 2019, he was placed 6th in The Sunday Times Giving List, which ranks philanthropists from the UK based upon the proportion of personal wealth that they have given away each year.

The Sunday Times reported in May 2019 that Tangen has given away more than £100 million to education and arts projects through his foundation.

Tangen has sponsored The London Munch exhibition at the British Museum, which is the UK’s largest exhibition of Norwegian painter Edvard Munch for nearly 50 years. The exhibition opened in April 2019.

In May 2019, it was announced that Tangen and his wife Katja had joined The Giving Pledge, committing at least half of their wealth to philanthropic causes during their lifetime or in their will.

The Sunday Times ranked him among the 20 most successful hedge fund managers in the UK in its 2018 Rich List.

In October 2018, Tangen and his wife Katja donated $25 million to the University of Pennsylvania through the AKO Foundation. The funds will be used to create a new campus building, to be named Tangen Hall, and to establish an international scholarship fund.

Tangen has actively funded initiatives within arts and education through the AKO Foundation, which he established in 2013. This enables him to trade his income tax for tax relief, by gifting large sums to his own foundation.

Tangen founded the AKO Foundation in April 2013, which focuses on education and the arts. The AKO Foundation has provided funding for the Jamie Oliver Food Foundation, Teach First, the London School of Economics, The Wharton School of the University of Pennsylvania, and The Courtauld Institute of Art.

Tangen has already supported 22 University of Pennsylvania students with scholarships since 2012. He also serves on Wharton’s Board of Overseers.

Tangen left Egerton Capital in 2002. In 2005, he launched AKO Capital, a London-based hedge fund, which has £10.8 billion of assets under management.

Tangen was an analyst at Cazenove & Co. before moving to Egerton Capital in 1997.

Tangen was trained in interrogation and translation in the Norwegian Intelligence Service, before he attended the Norwegian School of Economics and the Wharton School of the University of Pennsylvania as an undergraduate from 1988-92.

Nicolai Tangen (born 1966) is a Norwegian hedge fund manager and philanthropist. He is credited with holding the biggest private collection of modernist Nordic art in the world.