The Pensions Agency did not meet the legal requirements for risk control, according to a decision from the Financial Supervisory Authority, FI.
"The Pensions Agency has taken measures to acquire knowledge about the risks associated with the investments in Heimstaden Bostad, but the measures have not been sufficient", says Erik Blommé, chief legal officer at FI, in a press release.
The Pensions Agency has invested approximately 2.5 billion kronor in the real estate company, according to FI. The investment has received significant attention, not least considering that the current director-general of the Financial Supervisory Authority, Daniel Barr, was the head of the Pensions Agency when the high-risk investments were made.
Specifically, the special shareholder agreement in the unlisted Heimstaden Bostad, which "gives rise to an increased risk that the funds invested by the Pensions Agency in Heimstaden Bostad AB will be lost entirely or partially", writes FI.
Other companies that are also being investigated for their investments in Heimstaden Bostad are the pension company Alecta, Folksam, and KPA Pension.
