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Torkell Tveitevoll Eide earns more than 40 million as a star manager in one of the largest hedge funds in Europe. Now she wants to buy her third farm, but the municipality of Sandnes has rejected her application for a license.
Torkell Tveitevoll Eide, here at Sandved’s farm in Sandnes, has had his license application for the purchase of his third farm in Fjogstad rejected.
Kjell-Ivar Gilje Grøndal
Published:,
“After a general assessment according to the rules of the 2003 Licensing Act, the Sandnes Municipality is unable to grant Torkell Tveitevoll Eide a license to purchase the agricultural property,” states the Sandnes Municipality’s decision.
The decision is signed by Municipal Director Søren Jensen and Sandnes Township Agricultural Manager and Case Officer Brit Jorunn Haslemo. The decision can be appealed to the county governor.
– The decision will be appealed. Therefore, as the case is still being processed, I have no comment beyond this, writes Tveitevoll Eide in an SMS to Aftenbladet.
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He made his way to the top of Ako Capital: Torkell (39) was Nicolai Tangen’s right hand man in the multi-million dollar empire.
Has a purchase contract
Tveitevoll Eide works as a manager at hedge fund Ako Capital in London, where he was Nicolai Tangen’s right-hand man before Tangen became director of the oil fund. At the same time, it is in the process of expanding its portfolio within agriculture.
On July 22, Torkell Tveitevoll Eide signed a purchase contract stating that the farmer Neri Svandalsflona sells the farm with the address Fjogstadveien 276 to the successful manager. Later, Tveitevoll Eide had to apply to the municipality of Sandnes for a license to acquire the farm.
An application that has now been rejected.
The 40-year-old from Klepp already owns a farm in Sandved in Sandnes and one in Ege in Egersund. Both farms have a residency requirement, but have previously been managed together for several years by the same producer. As far as Aftenbladet knows, this is why Tveitevoll Eide was granted a license to run these farms without living on them. In addition, he rents a large area of pasture land to industrial entrepreneur Bjørn Rygg near Dale.
The property is requested to be acquired as additional land, and on the application form there is a “no” mark in item 19, where the question is whether the applicant agrees to settle in the property. If the requested property is considered part of Eide’s operating unit, the penalty will not be applied to the requested property, but will fall on the operating unit as a whole. According to the municipality, the requested property is not part of a single operating unit ”, the resolution states.
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The star manager has bought his third farm. It does not fall on good ground with everyone.
It refers to the ministry
The head of agriculture and social worker Brit Jorunn Haslemo also refers to the Ministry of Agriculture and Food in the decision.
“Questions can be raised about whether a person who has his main income from another industry that has to have large agricultural areas that are also widely dispersed complies with the object clause of the Licensing Law. The municipality agrees with the evaluations conducted by LMD; “The Ministry assumes that an owner who lives in his property by himself has a greater opportunity to take care of the property’s resources in such a long-term perspective than the person who does not live there.”
Torkell Tveitevoll Eide, behind, works as a fund manager at Ako Capital in London. Here he is with Nicolai Tangen, who was the owner of the company before becoming director of the Petroleum Fund.
Jeff Gilbert
Aftenbladet covered this case a week and a half ago. Then Torkell Tveitevoll Eide stated the following:
– There are several media that have contacted me regarding this case, but I do not want to comment on an application that is being processed. I’ts not going well. I am interested in acting in an orderly manner in this process and that is why I am waiting for the decision made by the municipality of Sandnes.
– Why did you buy another farm? And what plans do you have for this one?
– As I said, it is wrong for me to comment on a case that is being processed, but I am happy to comment when the application has been processed.
Will raise wagyu cattle
However, in an interview with Aftenbladet in December last year, Tveitevoll Eide revealed that he has plans to raise Wagyu cattle, a breed that is known for its fantastic quality of meat.
– It is at least exciting trying to achieve something, but it is a project that takes time, maybe three to five years, and how long it should work. Right now what worries me most is taking care of the land and the animals.
– I think that the consumers of the future want to know more about what we eat and where the raw materials come from. And then I think people want a higher degree of quality. In such an environment, it can be exciting to raise Wagyu cattle. From a purely climatic and geographical point of view, there is nothing to indicate that we cannot manage it here in the area, said Tveitevoll Eide, who himself states in the license application that the farm consists of around 180 cattle and 15 sheep.
Overview of the two farms that Torkell Tveitevoll Eide already owns in Sandved and in Ege. She wants to buy the one in Fjogstad, while renting a large area with pastures in Dale.
Viktor klippen
The purchase did not fit
The purchase of the farm in Fjogstad has not only had to do with the license application, but also with another party interested in the property. Through a letter to the Agricultural Office and the Municipality of Sandnes, Ole Trolsrud writes the following:
“I and the others both react to how Torkell buys farms the way he does, and we ask big questions about how he should be able to get another license application approved. When he apparently lives and runs a farm in Sandnes. He also bought the farm in Ege and rents a farm in Dale. “
“If Torkell’s license application at Fjogstadveien 276 is approved, it is considered to be in violation of the Licensing Act as it is intended to work.”
Trolsrud emphasizes to Aftenbladet that what concerns him most is the licensing law that must be respected.
– I am concerned that the law works equally for everyone, and no less important that it is fulfilled as intended. It would be terribly wrong if Tveitevoll Eide gets his application approved, says Ole Trolsrud, who does not hide his agenda in the case.
– We have a strong desire to buy the farm and settle there to manage a farm. If the Tveitevoll Eide license application is not approved, we have an agreement with the farmer who will sell to us.
