May 10 (Reuters) - Norway's oil fund, Statens pensjonsfond, the largest private investor in Europe will cut its exposure to euro zone sovereign debt to below 39 percent of its overall bond holdings, largely because of the way Europe handled the Greek debt swap. "It is very problematic that institutional investors from the euro zone got preferential treatment when compared to private investors," said Yngve Slyngstad, the Chief Executive of Norges Bank investment management, which administers the pension fund, told German paper Frankfurter Allgemeine Zeitung. "European institutions have not asked us about the circumstances for further investment in sovereign debt from the euro zone. But the question about what private investors expect is relevant for Europe," Slyngstad told the paper.

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