Norfund, the Norwegian Investment Fund for developing countries, has officially named Erik Sandersen as its new Chief Executive Officer.
The transition is set to take effect on July 1, 2026. The transition marks a pivotal moment for the institution as it expands its focus from traditional development into climate finance and high-risk reconstruction efforts in Europe.
A Decade of Impact and Institutional Knowledge
Sandersen is a Norfund veteran, having joined the organisation in 2014. He brings over 25 years of financial sector experience to the helm, most notably serving as the head of Norfund’s financial inclusion department for the past ten years.
During his tenure, he led investments in banks, microfinance institutions, and fintechs across Africa and Asia and held directorships that included key roles at Arise and Abler Nordic.
His leadership has been central to Norfund’s mission of reducing poverty by fostering job creation within small and medium-sized enterprises (SMEs).
Expanding the Three Core Mandates
As CEO, Sandersen will be responsible for a diversifying portfolio that now operates under three distinct mandates:
- Development Mandate (1997): The original mission to reduce poverty through sustainable private sector growth in low-income countries.
- Climate Investment Fund (2022): A critical tool for accelerating the global transition to low-carbon energy in emerging markets.
- Ukraine Fund (December 2024): A specialised fund dedicated to the reconstruction and economic resilience of Ukraine. Notably, Sandersen has personally led the work on this fund since its inception.
READ ALSO:Why Norfund’s CEO Is Stepping Down After Seven and a Half Years
The Vision: Profitability as a Development Tool
In his acceptance remarks, Sandersen reinforced Norfund’s core philosophy: that profitable investments are the most sustainable path to development.
“Norfund’s profitable investments are an effective tool for development, whether it is about creating jobs in low-income countries, avoiding emissions in emerging economies, or contributing to reconstruction in Ukraine,” Sandersen stated.
Background and Education
Prior to his impact investing career, Sandersen co-founded a Norwegian venture capital firm and held roles at the Boston Consulting Group (BCG). His technical and business background is extensive:
- Master’s in Computer Science: Norwegian University of Science and Technology (NTNU).
- MBA: Stanford University Graduate School of Business.
The Handover
Sandersen succeeds Tellef Thorleifsson, who is stepping down after 7.5 years at the wheel. Under Thorleifsson’s leadership, Norfund significantly scaled its climate and renewable energy commitments (including major partnerships with developers like Mulilo).
Norfund Overview
Norfund is Norway’s sovereign development investment fund that invests in private sector businesses in emerging markets to reduce poverty and support sustainable growth.
Norfund CEO
The CEO is Tellef Thorleifsson.
Norfund investment fund
Norfund provides equity, loans, and co-investments in sectors such as renewable energy, financial services, agribusiness, and SMEs across Africa and Asia.
Norfund Kenya
In Kenya, Norfund invests in renewable energy, fintech, and financial inclusion projects through local partners and funds.
Norfund Ghana
In Ghana, Norfund supports energy access, banking, and small business growth through equity investments and development partnerships.
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