In brief: EQT and AP3 veteran joins sustainable placement agent

Bengt Hellström, former head of alternative investments at Swedish pension fund AP3, has been appointed senior adviser at Worthwhile Capital Partners, a placement agent for sustainable funds headquartered in Stockholm.

Hellström’s role at Worthwhile will include manager selection, fund due diligence and long-term strategy, according to the firm’s announcement. He earned his stripes at AP3, where he was head of alternative investments for 20 years and EQT Partners where he was a partner and investment manager.

Worthwhile was founded in 2018 and has raised Foresight Group’s €1 billion renewables fund, Energy Infrastructure Partners, and NextEnergy Capital’s $530 million NextPower III fund.

In its statement announcing the addition of Hellström, the firm also referred to plans to add more advisers “as part of its strategy to expand its advisory services to state pension funds, occupational pension funds, life insurers and foundations in Northern Europe”. A spokesperson for the firm confirmed to New Private Markets that any LP-focused advice would be unpaid.