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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

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.