Nordic and Dutch pension fund consortium invests in district heating

The energy company's green profile and ability to generate stable returns attracted the group of major investors. For one member of the consortium, this is the second major infrastructure deal announced this week.

Photo: Alecta Press Statement

Energy company Fortum is selling a 50 percent stake in Sweden's largest supplier of district heating, Stockholm Exergi, to a consortium consisting of four Nordic pension companies and an international investment manager.

The long-term investors buying the stake for EUR 2.9bn are Swedish pension fund Alecta and Finnish mutual pension insurer Keva, two Dutch pension managers PGGM and APG and asset manager AXA IM.

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