AP1, Stockholm, hired Hamilton Lane to manage a $1.5 billion allocation to private equity, said Jan Radberg, head of private equity at the 324 billion Swedish kronor ($34.8 billion) pension fund, in an email.
"Hamilton Lane provided the most competitive tender application based on quality and price," Mr. Radberg said.
The mandate is a non-discretionary mandate and is flexible. AP1 plans to commit $1.5 billion over the next three years.
Hamilton Lane will be responsible for due diligence, legal work, and monitoring and reporting in connection with private equity investing, Mr. Radberg added.