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Swedish pensions issues in infrastructure
18 February 2014
Social infrastructure investment is concerning Sweden's pension funds about damage to reputation. Anthony Lane reports
While the Danes gear up for more investment in public
infrastructure, many Swedish pension funds are now concerned
about potential reputational damage stemming from indirect
investments in social infrastructure via increasingly unpopular
and besieged private equity companies such as Nordic
Sweden's private equity industry is the largest in Europe in
terms of assets relative to the size of GDP and is heavily
involved in running public services. More than 10% of all
Swedish pupils go to schools owned by private equity companies,
with EQT owning one school corporation that teaches a total of
50,000 pupils, while 30% of public primary care is delivered by
Although private equity companies did get out of paying more
than $600m in back taxes recently after Nordic Capital won a
test case against the Swedish tax authorities who wanted to
treat carried interest as income rather than a capital gain,
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