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Stefan Fällgren discusses how private equity and venture capital funds provide the strong, long-term growth required by pension funds - helping to support and improve the lives of millions of pensioners across Europe.
You sometimes just sit on your hands go to build up a mature Venture program on the fun side requires a lot of patience.
Hi my name is Stefan Fällgren, I am the head of private equity and infastructure at Scandia Mutual Life insance company. We manage private pension assets for more than 10 of population of Sweden working for so many people it's more or less 1.3 million swedes it's gives also the job a different perspective for our team we know that if we do just a little bit better work and select even better we can make a lot of people's lives a little bit better when they retire or are in retirement.
And I think that also pushes us to really be thorough and disciplined we work for our beneficiaries and really really try to do whatever we think is best for them. I think we have a deep belief in the value creation and the growth potential of Company ownership in the private sector in the private segment and that means that we should also outperform public equities over a long period of time over cycles and umwe have done so since the start.
And we expect that also to continue but for us it's really how to select in the beginning the best managers we can and we're not optimistic and it's clear and we try to invest more or less the same amount every year and then after a long time you can see if we done a good job or not. We have built up our program over a number of years and some sometimes when talk to other LPS or or potentially new LPS want to build a program say with inv Venture it needs you need to have a longterm dedication to the AET class cuz when you start you will everything will be exciting you will see every manage you will see will be fantastic and interesting and so some you have an expression in Sweden that's sort of says you sometimes you just sit on your hands goes to build up a mature Venture program on the font side requires a lot of patience.
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