Finnish State Fund ups alternative exposure
FINLAND - VER, the €10.3bn Finnish State Pension Fund, made new investments in eight real estate funds and five private equity funds in 2006.
The fund has a clear commitment to raise its exposure to alternatives. Last year the increase was from 1.3% to 4.1% of total assets.
Timo Loyttyniemi, the fund's managing director, told IPE earlier this year that exposure will continue to grow in 2007 and beyond as the fund aims for a 10% strategic allocation to alternatives.
The new real estate funds received at least €165m between them. The providers include Celeres, Doughty Hanson, Franklin Templeton, Grosvenor, ING, NV-Kiinteirstörahasto and Standard Life.
The new private equity providers, who received just under €90m between them are: Crown, EQT, Eqvitec, Henderson and Macquarie
Last month VER appointed Antii Vartiainen as an analyst in its alternatives team.
Vartiainen will focus on covering hedge funds, working alongside the portfolio manager for alternatives, Illka Tomperi.