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Oregon Examines Spyware Investment amid Controversy

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The Oregon State Treasury office in Tigard, OR.

Oregon was the first major investor in private equity firm Novalpina Capital, which holds majority ownership of NSO Group, maker of Pegasus spyware.

Credit: Andrew SelskyAP

The future ownership of an Israeli spyware company whose product has been used to hack into the cellphones of journalists, human rights workers and possibly even heads of state is up in the air.

Major investors in a private equity firm that has majority ownership of NSO Group, the maker of the Pegasus spyware, are in discussions about what action to take. The Oregon state employee pension fund is one of the largest investors, if not the largest, having committed $233 million to Novalpina Capital, the private equity firm, in 2017.

Novalpina Capital has been saddled with both an internal dispute among its founding partners and an explosive report showing NSO Group's spyware has been widely misused around the globe.

Oregon State Treasury spokeswoman Rachel Wray told The Associated Press in an email Wednesday the department is getting involved. State officials previously said investors have limited say in private equity investments once they are completed.

From The Washington Post
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