From Citywire

Giant Swedish pension fund AP1 has awarded a private equity mandate worth $1.5 billion to U.S. investment group Hamilton Lane.

The Swedish company has worked with the Philadelphia-based firm since 2007 and has now extended its working arrangement following a tender process.

The arrangement coincides with AP1 launching a three-year private equity investment programme, which is designed to expand on its work in the real and alternative assets market.

The services include due diligence, legal assistance and monitoring, reporting and other fund administration services. It will invest in global private equity opportunities.

In a statement, AP1 said: ‘The mandate is non-discretionary, and we intend to commit $1.5 billion over the coming three years. We have a 6% target allocation to PE and intend to do eight or nine investments per year, of which two or three will be new GPs.’


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