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SVB Losses Shake Swedish Pension System With Alecta’s Major Holding

  • Alecta is SVB’s fourth biggest shareholder, filings show
  • Pension fund recently sold all holdings in Handelsbanken
The Alecta headquarters in Stockholm. 

The Alecta headquarters in Stockholm. 

Source: Google

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The fallout from Silicon Valley Bank has spread to Sweden’s largest pension group after the fund more than doubled its holdings in the Californian bank during the past year.

Stockholm-based Alecta, which oversees more than $104 billion in assets, was SVB’s fourth-biggest shareholder at the end of last year with a holding worth $605 million, according to data compiled by Bloomberg. Following a 60% plunge in SVB’s stock on Thursday, the value of the stake was worth only $279 million.