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Fund of Funds

AP3, Tredje AP-fonden/Third Swedish National Pension Fund

AP3, Tredje AP-fonden/Third Swedish National Pension Fund invests in other funds rather than directly in companies, from Stockholm, Sweden. It states a focus on energy & utilities and real estate.

Disclosed holdings
Earliest stated investment
HeadquartersStockholm, Sweden
Stated fund sizeSEK 577.1bn AUM (Dec 2025)

Valuation context

Transaction values in Energy & Utilities

What companies have actually sold for in energy & utilities, across 584 recorded transactions.

Median consideration$180m
Middle 50%$45m-$420m
Revenue multiple1.4×
EBITDA multiple7.1×

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Similar mandates

Other fund of funds investors active in energy & utilities.