Swedish pension hires new CIO
Third Swedish National Pension Scheme (AP3) has appointed Pablo Bernengo as chief investment officer (CIO), effective from November 2019.
Bernengo joins from asset management firm Öhman Fonder, where he served as a CEO. He has previously worked for DnB Nor, Skandia and Carlson Investment Management (CIM).
Bernengo will replace Kerim Kaskal, who has served as acting CIO since August 2018, following the death of former CIO Mårten Lindeborg.
Kaskal served as a CIO from October 2013 to November 2015, and then departed from the organisation to his own fund management company before rejoining the organisation in August 2018.
The SEK 353.1bn pension fund has invested 3.8% of its portfolio in private equity. The PE portfolio includes commitments to venture capital, direct secondaries, buyouts and co-investments, among others.
Previous commitments to PE include MCP Opportunity Secondary Program IV, Newbury Equity Partners IV, and Clayton Dubilier & Rice Fund X.
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