A senior portfolio manager at Sweden’s largest hedge fund firm, Brummer & Partners, has left to become the chief investment officer of Swedish state pension fund AP3.
Financial News reported that Kerim Kaskal will start his new position at the pension fund for the second time on October 1 where he will be responsible for its “overall risk allocation." Kaskal previously served as the head of AP3’s asset management unit between 2005 and 2008.
At Brummer, Kaskal was the deputy chief investment officer of the hedge fund’s macro and fixed-income unit, Nektar Asset Management.
AP3 manages approximately $4.6 billion for Sweden’s state employees.