Sweden’s Real Estate Crisis Threatens Its Biggest Pension Fund
After losing $2 billion last spring, Alecta is under the spotlight again for its sizeable stake in Heimstaden Bostad
Balcony platforms on a residential apartment block development construction site, owned by Heimstaden Bostad AB, in Warsaw, Poland.
Photographer: Piotr Malecki/BloombergThis article is for subscribers only.
Sweden’s biggest pension fund parted ways with chairwoman Ingrid Bonde this week, six months after Alecta incurred $2 billion in losses from three failed bets tied to the collapse of Silicon Valley Bank in the US.
The departure of Bonde, 63, adds to the growing list of executives who have left the Stockholm-headquartered firm in the wake of the crash. In recent months, the fund has appointed a new chief executive officer, chief investment officer and head of equity portfolio management.