Home ListingOctober 21, 2015

Future Fund Poaches AP4 Equity Chief

Björn Kvarnskog will move to Australia in the New Year to oversee A$39 billion in equity investments.

Reported by Featured Author

Future Fund, Australia’s A$117.8 billion (US$85 billion) sovereign wealth fund, has hired Björn Kvarnskog to lead its equity investments.

Kvarnskog will take up his role in early 2016, the fund announced today. He joins from AP4 in Sweden, where he oversaw a SEK123 billion ($14.8 billion) global equities portfolio. He has also worked at AP3 as a portfolio manager, and at asset managers DnB NOR and Alfred Berg.

“Bringing together different investment perspectives is enormously important to how we run the portfolio and Björn will be a great addition to our thinking,” said Raphael Arndt, Future Fund CIO. He added that Kvarnskog had “extensive experience in long-term investing and leadership”.

Sarah Carne, acting head of equities at Future Fund, will continue in this role until Kvarnskog takes up his new position in the New Year. Future Fund’s equities allocation was valued at A$39 billion, roughly a third of the overall portfolio.

Arndt was appointed CIO in September 2015, succeeding David Neal. Wendy Norris was appointed head of the fund’s infrastructure team in March this year, overseeing roughly A$9 billion.

Arndt was ranked #16 in CIO’s latest Power 100 list of asset owners, published yesterday. AP4 CEO Mats Andersson was ranked #49.