The SKr310 billion ($37.5 billion, €33.2 billion) AP Fonden 4, the fourth Swedish national pension fund, has appointed Niklas Ekvall as chief executive.
Ekvall joins AP4 from Nordea Bank where he worked as head of group treasury for five years, according to his LinkedIn profile.
Prior to this he led the SKr303 billion AP Fonden 3 before leaving to join investment bank Carnegie in 2004.
Ekvall will replace Mats Andersson on 1 October, 2016. Andersson will leave his position on 12 July after ten years as AP4’s chief executive. Per Colleen, head of equities at AP4, will act as interim chief executive until Ekvall assumes the position, according to a statement.
“Niklas has extensive experience from both asset management and of the AP-Funds and he is also interested and engaged in societal issues. We are very happy that Niklas will join us at AP4,” said Sarah McPhee, AP4’s chairwoman, in the statement.
AP4 has a 3 percent allocation to alternatives, according to its latest annual report. Recent commitments by the fund include to Swedish manager Priveq’s fifth fund, which closed on its SKr2.3 billion hard-cap in January, to Keyhaven Capital Partners IV and to EQT’s debut venture fund, according to PEI Research & Analytics.
EQT Ventures held a final close on €566 million in May, having raised the capital predominantly from existing EQT limited partners, as reported by Private Equity International.
AP4 has committed to several EQT funds in the past, including its €4.82 billion sixth flagship fund and its €1.93 billion Infrastructure Fund II, according to PEI data.