Axel Brandstrom was named head of real assets at Alecta Pensionsforsakring, Stockholm, effective Jan. 31, a spokesman said.
The role is new. Mr. Brandstrom is responsible for real assets at the 928 billion Swedish kronor ($97.5 billion) Alecta, whose real assets portfolio has grown to about 10% in 2019 from 7% in 2016. Following an organizational change, the spokesman said, the real assets division was created to host already existing real estate and international real assets groups.
International real assets continues to be led by Frans Heijbel, while real estate Sweden will be headed by Lena Boberg, starting in June. Ms. Boberg worked as CEO of real estate company ICA Fastigheter AB.
Alecta's directly owned real estate portfolio in Sweden is 34.5 billion Swedish kronor. Real assets, including real estate and international assets, amount to about 100 billion kronor.
Mr. Brandstrom previously was CIO at Skandia Investment Management. Details of his replacement there could not be learned.