SVB losses shake the Swedish pension system with Alecta major owner

The fallout from Silicon Valley Bank has expanded into Sweden’s largest pension group after the fund more than doubled its holdings in the Californian bank over the past year.

Stockholm-based Alecta, which oversees more than $104 billion in assets, was SVB’s fourth-largest shareholder at the end of last year with a stake of $605 million, according to data compiled by Bloomberg. After one 60% dive in SVB’s stock on Thursday, the value of the stake was worth only 279 million dollars.

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