The Swedish state pension fund system is seeing of one of its most significant transformations in recent history. The government, backed by the cross-party Pension Group, has proposed reforms aimed at streamlining the AP funds, also known as buffer funds, that act as financial stabilizers for the national pension system. The changes include merging some of the existing funds, tightening governance rules, and adjusting investment regulations. These moves are expected to have profound implications, also when it comes to alternative investments and hedge funds. For decades, Sweden’s AP funds have...