Stockholm (HedgeNordic) – Hanna Ideström has recently joined the Alternative Investments team at AP4, one of the buffer funds in the Swedish state pension system, as a Senior Portfolio Manager. “Given my previous background from direct investments within the buyout segment, much of my focus at AP4 will be within the Private Equity space,” says Ideström.
According to AP4, “Hanna’s experience in Private Equity strengthens the AP4 Alternatives team and supports AP4’s ambitious agenda to increase the exposure to Alternative Investments including Private Equity over the coming years, in light of the new AP Funds Act.” In November 2018, the Swedish Parliament decided on changed rules for the AP funds, allowing greater flexibility regarding how the AP fund can allocate their capital. The rules took effect during last year and allow the AP Funds to invest a higher proportion of their capital in illiquid assets, among other things.
The Alternative Investments unit at AP4 that Ideström joined is responsible for investments in unlisted companies and illiquid assets such as unlisted property companies, private equity funds and illiquid credits. AP4’s exposure to unlisted investments had been relatively small due to the previously restrictive rules. The pension fund plans to increase its allocation to alternatives in the current low-return environment. Jenny Askfelt Ruud, who joined AP4 as Head of Alternatives in September 2018, previously said that “with the new rules in place, my new colleagues and I are looking forward to developing AP4’s strategy and position in alternative investments and working further with integrating sustainability in our investment process.”