Alecta, Stockholm, committed an additional $100 million to NN-FMO Emerging Markets Loan fund, said a spokeswoman at the Swedish occupational pension provider.
The fund, which is run by NN Investment Partners and Dutch development bank Financierings-Maatschappij voor Ontwikkelingslanden invests in corporate loans in emerging markets, focusing on sustainable development projects. Alecta, which has 774 billion Swedish kronor ($91 billion) in assets, previously committed $100 million to the fund in September 2017.
"The fund meets our required rate of return while delivering measurable impact, and also gives us exposure to a market we could not get access to with our in-house capacity," the spokeswoman said.
"To us, this is a good example on how we can fulfill our duty to create the highest value possible for the occupational pensions, as the fund meets both the required rate of return and creates measurable impact aligned with the 2030 Agenda for Sustainable Development Goals," Magnus Billing, CEO of Alecta said in a news release.
The U.N.'s 2030 Agenda includes 17 sustainable development goals aimed at eradicating poverty and protecting the planet; it was adopted in 2015.