NBIM Signs Partnership with Credit Benchmark to Strengthen Insight into Unrated Counterparty Risk

LONDON, Feb. 19, 2026 (GLOBE NEWSWIRE) -- Norges Bank Investment Management (NBIM), the world’s largest sovereign wealth fund, has begun a long-term partnership with Credit Benchmark, the leading provider of consensus-based credit risk data and analytics, as it seeks deeper insight into unrated and opaque areas of global credit markets where traditional signals are limited or unavailable.

Utilising Credit Benchmark’s credit consensus data via Snowflake, NBIM is embedding independent, consensus-driven credit intelligence into its counterparty selection, collateral assessment, and ongoing risk monitoring frameworks. The expanded use supports disciplined, forward-looking decision-making across credit cycles and aligns with NBIM’s long-term investment horizon and responsibilities as a global financial market participant.

A core focus of the partnership is NBIM’s Securities Finance activity, where traditional ratings often fail to provide adequate coverage. NBIM will use Credit Benchmark data as a factor to assess the creditworthiness of counterparts including funds, and associated collateral – focussing upon segments of the market that are typically unrated and structurally opaque, yet systemically important.

Credit Benchmark’s dataset aggregates and anonymizes contributed credit risk views from over 40 global financial institutions, delivering a unique, real-world perspective on obligor creditworthiness. With coverage spanning more than 120,000 entities worldwide—the vast majority of which are unrated—the data provides supplementary visibility into credit exposures that sit beyond the reach of traditional ratings frameworks

“As we expand our Securities Finance activities, access to high-quality insights on hitherto unrated counterparties is essential,” said Matthew Brunette, Global Head of Financing, Norges Bank Investment Management. “Credit Benchmark provides a level of transparency that cannot be obtained elsewhere, particularly for funds and other unrated entities and will play an important role within our broader counterparty and credit risk framework.”

NBIM’s decision to begin the relationship followed a comprehensive evaluation of Credit Benchmark’s global coverage, data governance, and analytical robustness. The bank-sourced, consensus-based nature of the data was identified as a critical differentiator, offering early, dynamic signals that supplement and complement internal models and traditional risk tools.

“Credit Benchmark was founded to illuminate areas of credit risk where traditional data is scarce or simply does not exist,” said Mark Faulkner, Co-Founder, Credit Benchmark. “By aggregating and anonymizing the collective credit views of global banks, we deliver a differentiated, forward-looking view of risk grounded in real market expertise. We are proud to support NBIM and a growing number of large funds - many of which are Global Peer Financing Association (GPFA) members with intelligence that fills critical gaps in unrated credit, strengthens internal risk frameworks, and enables more confident decision-making in an increasingly unpredictable macroeconomic environment.”

This multi-year collaboration reflects a shared commitment to resilience, transparency, and long-term risk management. By leveraging Credit Benchmark’s consensus dataset, NBIM is enhancing its preparedness for the next phase of the credit cycle and reinforcing its ability to manage risk across complex, global portfolios.

About Credit Benchmark

Founded in 2015, Credit Benchmark is a leading provider of consensus-based credit risk data and analytics, supporting long-term investment and risk decision-making for global asset owners and financial institutions. By aggregating and anonymizing credit risk views from more than 40 global banks, Credit Benchmark delivers obligor-level Credit Consensus Ratings and forward-looking metrics across over 120,000 legal entities, primarily unrated funds, private companies, and financial counterparties. Its insights help institutions strengthen internal credit frameworks, validate risk assumptions, and gain a clearer, more comparable view of exposures across complex global portfolios.

About Norges Bank Investment Management

Norges Bank Investment Management manages the Government Pension Fund Global on behalf of the Norwegian Ministry of Finance, investing internationally across equities, fixed income, real estate, and renewable energy infrastructure to safeguard and build financial wealth for current and future generations. The fund is one of the world’s largest, broadly diversified across markets, countries, and asset classes, and managed transparently and responsibly with the aim of achieving the highest possible return after costs within an acceptable level of risk. NBIM emphasises active ownership to promote long-term value creation and sustainable markets.

About Global Peer Financing Association (GPFA)

The Global Peer Financing Association (GPFA) is a non-profit industry association with over 40 global asset owners, representing over $11 trillion in assets. Members are engaged in a variety of securities finance and investment activities and share a goal to promote best practices and knowledge sharing through wide-ranging discussions on timely, relevant investment topics. GPFA brings together members with the goal of encouraging the development of a more effective and transparent marketplace for securities financing activities, liquidity management and collateral management. 

Contact: Krystle Cajas krystle.cajas@modop.com