AP6 1996 – 2025 Successful and long-term value creation
AP6 ends its operations with a return of 7.5% and a profit of SEK 5.8 billion for the first eight months of the year. The average return for five years is 16%, for ten years 12.3%. Since its inception, AP6 has contributed SEK 72.5 billion to the pension system, corresponding to a return of 700%. It is this return that the decision to have a buffer fund specializing in unlisted assets has generated for the Swedish buffer fund system.
– 2025 has been a special year also in other respects than that AP6 is closed down. The listing and sale of Asker Healthcare Group, one of the most successful co-investments AP6 has ever made, has generated a return of more than SEK 4 billion to the pension system, says Katarina Staaf, CEO of AP6.
The average net return (as of 250831) over five years is 16.0% compared to the target of 7.0%. All sub-portfolios have an average return well above 15%. The buyout portfolio returns 22.7%, the venture/growth portfolio 16.3% and the secondary portfolio 18.6% on average over five years.
The average total return for the entire investment portfolio (excluding liquidity) amounts to 21.8%.
The fund capital amounts to SEK 82.9 billion.
AP6 is the second largest investor in private equity in Sweden after Skandia and the fifth largest investor in the Nordics according to Arkwright's evaluation (on behalf of the Swedish government) of the AP funds for 2024. AP6 has created value for the pension system through successful investments in private equity funds and through co-investments. The latest example is Asker Healthcare Group together with Ikea sphere investment company Nalka. The investment resulted in a profit of over SEK 4 billion for the pension system.
AP6, together with Skandia, was a co-founder of Creandum and was an early investor in the development of Spotify, a very good investment for Sweden's pensioners via AP6.
– We are proud of what we have achieved at AP6 for the benefit of the buffer fund system and the role we have played in the private equity market, which has contributed to Sweden's success in the area. I would like to take this opportunity to thank all employees for the fantastic work that has been done to create returns for Sweden's pensioners. Without the staff's expertise, commitment and professionalism, AP6 would never have become the internationally renowned investor that we are, says Katarina Staaf, CEO of AP6.
Thank you from us at AP6!
On 20 May 2025, the Swedish Parliament decided that AP6 would be merged into AP2 on 1 January 2026. This will make 2025 the last operating year for AP6 and the operations will be closed on 31 December. The CEO and employees have been dismissed and will leave the fund on this day, when the appointment of AP6's board of directors will also end. Against this background, the board and CEO will submit an annual report for 2025 already in December 2025. Profit figures are based on AP6's financial statements as of 31 August, supplemented by comments relating to significant transactions or other significant events relating to the last months of the year. As the investment portfolio mainly comprises unlisted indirect investments whose valuations are based on the PE-funds' reporting as of 30 June, the results will largely reflect the full-year results. The annual report for 2025 also includes an integrated sustainability report in accordance with GRI Standards. AP6 will also produce a statutory annual report by December 31, which the board of AP2 will sign.
Kontakter
Ulf LindqvistHead of Communications
Tel:+46 708 74 10 48ulf.lindqvist@ap6.seBilder
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AP6 is part of the pension system of the Swedish government and, along with AP 1-4, its assets are referred to as buffer capital. AP6’s assignment is to manage funds entrusted to it in the private equity market (unlisted assets) according to the law that governs the Fund’s operations, the Sixth Swedish National Pension Fund Act (2000:193). The Riksdag (Swedish Parliament) decided on May 20, 2025, that the law should be repealed, which means that 2025 is the fund's last year as its own AP fund.
AP6 terminates its business by adding yet another year with positive return and increases assets under management to SEK 82,9 billion. AP6 has since inception contributed to the pension system with SEK 72,5 billion corresponding to a return of 700%. Average return for five years is 16,0%, for ten years 12,3% and since inception 7,5%. It is this return which the decision to let one of the buffer funds to be specialised in unlisted assets, has generated to the pension system.
Följ Sixth Swedish National Pension Fund
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Senaste pressmeddelandena från Sixth Swedish National Pension Fund
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Long-term, consistently applied strategy generates a net return of SEK 22 billion for AP6.21.2.2022 11:00:00 CET | Press Release
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Highest return to date for AP626.2.2021 09:30:00 CET | Press Release
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