Alecta Cuts Value of Landlord Heimstaden Bostad Stake by 19%
- Investment is biggest one for the Swedish pension fund
- Talks on ownership agreement over Heimstaden Bostad ongoing
The Alecta headquarters in Stockholm.
Photographer: Erika Gerdemark/BloombergThis article is for subscribers only.
Alecta took a 19% writedown in the value of its biggest investment, a stake in indebted landlord Heimstaden Bostad AB.
Sweden’s largest pension fund marked down the value of its ownership in the residential company by 8.7 billion kronor ($840 million) in the fourth quarter, according to a statement on Wednesday. In the full year, the value came down by a quarter.