Alecta’s CIO to step down in November

Hans Sterte, CIO of Swedish pension provider Alecta, has announced plans to vacate his post in mid-November after four-and-a-half years in the role.

An official from Alecta said the pension group has already started the process to recruit a new CIO

Prior to Alecta, Sterte served as the CIO of Skandia Norden for almost 11 years and was the CIO of Länsförsäkringar for four and a half years.

After Sterte joined Alecta as CIO in  2018, the Swedish pension fund undertook a five-year plan to increase its allocation to alternative investments from 8 percent of the total portfolio to 20 percent, according to HedgeNordic. Alecta has grown its share of alternative assets — which mainly consist of real assets — to 14.3 percent of the overall investment portfolio. The alternatives portfolio is composed of around three-quarters real estate and infrastructure, 1 percent unlisted companies and leveraged loans.

Alecta currently oversees some SEK 1.12 tri