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Alecta Brings in Private Debt Expertise

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Stockholm (HedgeNordic) – Swedish pension giant Alecta has appointed Erik Kaukas as a Portfolio Manager focused on fixed income and credit. Kaukas has more than five years of experience in private debt, leveraged finance and debt advisory from Carnegie Investment Bank, Nordea and Nest Capital.

“Very happy to announce that I have embarked on a new journey as a Portfolio Manager at Alecta,” Erik Kaukas announces on LinkedIn. “I am humbled to be contributing to a greater purpose through being a part of a team that actively makes a positive impact on people’s lives through ensuring good pensions, stable returns and sustainable investments.” Kaukas has joined the fixed-income and credit team led by Head of Fixed Income and Strategy. Tony Persson. In an earlier interview in 2022, Persson mentioned Alecta’s interest in seeking attractive returns from private debt and structured credits.

“Very happy to announce that I have embarked on a new journey as a Portfolio Manager at Alecta.”

Before joining Alecta, Erik Kaukas had been working at Carnegie Investment Bank since January 2022. Prior to that, he served as an investment banking analyst and associate in leveraged finance at Nordea. Additionally, Kaukas gained experience in this space as an investment analyst at private debt-focused asset manager and advisor Nest Capital before joining Nordea in mid-2019.

Kaukas joined Alecta after a turbulent first half of 2023 for the pension fund due to its investments in three of the worst-affected banks during the US banking crisis in March and April. This resulted in a loss of approximately SEK 20 billion for Alecta. Despite a turbulent first half of the year and significant losses on individual investments, Alecta’s defined premium savings product, Alecta Optimal Pension, managed to return 6.6 percent during the first half of 2023. Managed capital for Alecta Optimal Pension amounted to SEK 250 billion at the midpoint of the year.

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Eugeniu Guzun
Eugeniu Guzun
Eugeniu Guzun serves as a data analyst responsible for maintaining and gatekeeping the Nordic Hedge Index, and as a journalist covering the Nordic hedge fund industry for HedgeNordic. Eugeniu completed his Master’s degree at the Stockholm School of Economics in 2018. Write to Eugeniu Guzun at eugene@hedgenordic.com

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