AMF, Stockholm, will invest 2 billion Swedish kroner ($211.8 million) in the subordinated equity or debt of private companies in Sweden that are in need of additional capital due to the continuing impact of the coronavirus pandemic.
Investments will be made through a new joint venture, created by the 622 billion kronor pensions provider AMF, money manager FAM and financial services firm SEB, a news release said Friday. FAM is owned by the research foundations, the Wallenberg Foundations — endowments set up and supported by the Wallenberg family, which have a combined 90 billion kroner in assets.
Sindre Invest, as the joint venture firm is known, will launch in July.
Sindre will invest 50 million kronor to 400 million kronor per company, targeting midsize firms that were successful before the crisis, AMF said in the release. Companies must have at least 250 employees, and investments will run for three to five years.