Alecta is the largest pension manager in Sweden, with over US$ 115 billion under management. It manages all ITP2 pensions (defined benefit) and is the default option for ITP1 and TPK (defined contribution). It is one of the largest investors in the Stockholm Stock Exchange and one of the country’s largest property owners. In March 2023, the fund came to the international spotlight as it lost circa US$ 2 billion in three US lenders (SVB, First Republic and Signature) and led to the departure of its CEO and CIO.