AP1, Stockholm, invested $100 million in an emerging markets equity impact strategy managed by BlackRock, said Tina Ronnholm, portfolio manager, external management.
The 333 billion Swedish kronor ($38.4 billion) pension fund is the seed investor in the fund, confirmed Ms. Ronnholm.
The BlackRock Emerging Markets Equity Impact Fund was launched to respond to AP1's desire to invest in emerging markets and take sustainability into consideration.
The strategy was created by the BlackRock systematic active equity team, and combines data and sustainability insights.
Ms. Ronnholm said the investment was made from reducing an existing passive allocation with BlackRock. "The idea is to reduce our exposure to passive investments and to increase our exposure to more sustainable solutions like this new fund," she said in an email.