Mats Andersson to Exit Sweden’s AP4

The influential CEO is the latest to announce his departure from the Swedish public pension fund.

Mats Andersson, AP4Mats Andersson, CEO of Sweden’s AP4, is to leave the pension fund after nearly 10 years at the helm.

He has offered to remain in place until a permanent replacement is found, according to a statement on AP4’s website.

“It has been a privilege during the past 10 years, along with all the talented and dedicated employees, to lift AP4 to a position with the best returns and greatest capital among the AP funds,” Andersson said.

Andersson, a member of CIO’s Power 100 list of influential asset owners, indicated that he would seek to widen his involvement in responsible and environmental investment projects. He currently leads the Portfolio Decarbonization Coalition, which has brought together asset owners and managers running $100 billion to pledge to reduce the carbon outputs of their portfolios.

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He is also a board member for the Global Challenges Foundation, based in Sweden, which aims to “reduce the risks of the major global catastrophes.” Founder László Szombatfalvy has already offered Andersson a more active role in the foundation, the outgoing CEO said.

Andersson was also a vocal opponent—along with several of his colleagues at Sweden’s other public funds—of proposed reform of his country’s pension system. The Swedish government abandoned plans to merge away AP6 and one other fund at the end of last year.

Andersson’s resignation follows that of AP4’s CIO Magnus Eriksson just two weeks ago. He is set to leave the fund in June. Equity chief Björn Kvarnskog left the SEK310 billion ($36 billion) fund at the end of 2015 to join Australia’s Future Fund.

Home > News > Regulation > SEC Examining Carlyle, Apollo Fee Practices

Regulation February 26, 2016

SEC Examining Carlyle, Apollo Fee Practices

The US regulator made “informal requests” for more information regarding the two private equity firms’ fees and expenses.

The US Securities and Exchange Commission (SEC) is conducting informal investigations into the fee practices of Carlyle Group and Apollo Global Management, according to regulatory filings by the firms.

Carlyle said the SEC had requested “additional information about our historical monitoring fee acceleration practices” in its February 10-K filing.

“We are cooperating fully with the SEC’s informal request,” the firm continued.

Apollo revealed in its November 10-Q filing that it had likewise been asked for additional information on “disclosure to limited partners of the acceleration of certain special fees.”

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“The company is fully and voluntarily cooperating with the informal request,” Apollo said.

Spokespeople for both companies would not provide any additional comment.

Private equity firms Blackstone and KKR paid a combined $69 million in SEC settlements last year for charges related to improper fee disclosures.

Blackstone’s charges came a year after the SEC “informally requested additional information about [its] historical monitoring fee termination practices” in October 2014, the firm said in its most recent 10-Q filing.

SEC Chair Mary Jo White said in October that private equity fee and expense practices continue to be one of the regulator’s top concerns.

“Investors, regardless of their sophistication level, must have, and deserve to have, the information necessary about their adviser and funds to make an informed investment decision,” she said.

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