After nearly a decade away from the institutional investor side of the market, Ulf Erlandsson is returning to the Fourth Swedish National Pension Fund (AP4) as Senior Fixed Income Portfolio Manager for liquid credit. The move marks a full-circle moment for the seasoned credit specialist, who left AP4 in 2017 to briefly pursue opportunities in the Nordic hedge fund scene before cementing his position as a prominent voice in climate-focused fixed income investing.
Erlandsson spent much of his post-AP4 career as founder and CEO of the Anthropocene Fixed Income Institute (AFII), a non-profit research and advocacy organization focused on aligning fixed income markets with the global climate transition. “I am so proud of the achievements of AFII over the past six years,” Erlandsson wrote in a LinkedIn post. “The idea has always been to write objective, market-focused research, drive impactful advocacy, and build quantitative strategies to empower investors to invest in the climate transition.”
Erlandsson previously spent eight years at AP4 as a senior portfolio manager in the global macro trading group. Prior to that, he worked in London as a quantitative credit strategist at Barclays Capital. After leaving AP4 in 2017, he co-launched and co-managed the Hamiltonian Global Credit Opportunities Fund, an absolute-return credit hedge fund introduced in 2018 by Göteborg-based Strukturinvest Fondkommission. He also worked on launching Glacier Impact, a climate-focused credit hedge fund strategy that ultimately did not go live. In addition, he briefly collaborated with Norwegian hedge fund group Sector Asset Management to develop and raise capital for a climate impact credit strategy.
Erlandsson will rejoin AP4 as Senior Portfolio Manager for liquid credit in April. His return brings together extensive institutional portfolio management experience, hands-on fund management in credit strategies, and several years of research and advocacy focused on climate-aligned fixed income markets. Reflecting on the move, Erlandsson pointed to AP4’s performance track record, operational and technological capabilities, and commitment to transition investing as key factors behind his decision. “Given AP4’s performance, team, operational and technological excellence, and commitment to investing in the transition, what more can a fifty-something fixed income PM ask for?” he wrote.
