The Seventh Swedish National Pension Fund (AP7), which has USD32 billion in assets, has selected bfinance to provide advice and support on a forthcoming private equity tender for an estimated USD 1.1 billion in new commitments.
AP7, the State-run option within Sweden’s funded Premium Pension System, selected bfinance following an open public procurement process that began in June 2015. bfinance attained the highest scores for its “organisation and asset class expertise”, “ability to provide suitable product and resources” and its “quality of track record”.
Following bfinance’s appointment, the firm has been working with AP7 on a customised selection framework for the private equity tender, which will be run according to the Competitive Negotiated public procurement procedure. The contract notice has now been published in the Supplement to the Official Journal of the EU, alerting potentially suitable managers to express their interest in the tender.
Since its first assignment for a Danish pension fund in 2004, bfinance has helped more than thirty large institutional investors in the five Nordic countries with investments worth USD 31 billion across mainstream and alternative asset classes.
Richard Tyszkiewicz, Senior Director at bfinance, says: “We are delighted to have won this tender and are looking forward to working with AP7. This important assignment is a testament to the quality of our Private Markets team, which given the current investment trends is likely to be very busy in the Nordic region for the foreseeable future.”
