Swedish pension fund moves into alternative assets

The Seventh Swedish National Pension Fund (AP7) has become one of the first public pension funds in Sweden to invest in hedge funds.

AP7 is to invest $48m in K2 Advisors, a New York-based hedge fund of funds with more than $1bn under management, and $51m in EIM SA, which specialises in the identification of alternative investment managers, along with the construction and management of tailor-made fund of hedge funds.

The AP7 brief for this mandate is for a hedge fund of funds which targets a cons