Alts decision day looming for AP7
SWEDEN - AP7, Sweden's EUR2.3bn seventh national pension fund, will decide whether or not to invest in private equity and hedge funds by the end of the month, according to Richard Grottheim, the fund's deputy executive president.
Should the fund’s board of trustees give their approval to the alternative investment strategies, Grottheim said that managers will be appointed shortly after as it has already shortlisted managers for the mandates.
AP7 has shortlisted 35 managers for the two mandates, Grottheim said, 15 of which are in contention for a EUR98m balanced multi-strategy hedge fund brief.
The remaining 20 firms are competing for a EUR98m private equity mandate. The private equity mandate includes global buyout funds and venture capital. AP7 has included secondary and single investor fund of funds managers for consideration for both mandates.
AP7 has expedited the mandate searches as it is looking to have firms in place and funded before the end of March. The chances of the board rejecting the alternative investments plan is small, he said.
New England Pension Consultants is assisting AP7 with the search.
By Geoffrey Ho
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