SALEM, Ore. (AP) — In 2017, the Oregon State Treasury invested $233 million in a private equity fund called Novalpina Capital. That investment has created a hangover, and Treasury now wants questions answered. After Oregon made the investment, Novalpina Capital acquired a majority share of NSO Group, an Israeli company that produces smartphone spyware. The spyware has been used by repressive regimes against dissidents, human rights workers and journalists. NSO Group has been hit by numerous lawsuits and last month was blacklisted by the U.S. government. Earlier this year, Novalpina Capital became so dysfunctional that investors, including Oregon, stripped it of control of the fund. Oregon State Treasurer Tobias Read is now looking for clarity in the murky situation.
Oregon Treasury seeks clarity in controversial investment
