A-P Fonden 7, part of Sweden's national pension system, has appointed LGT Capital Partners, a Swiss-based alternative asset manager, to run part of its $176m (€144m) non-listed private equity investments.

LGT will work alongside Hamilton Lane Advisors, the US fund-of-fund manager bought out by Bill Gates last year, and HarbourVest Partners, the US private equity firm. They will share management of the $176m portfolio, although the $4bn fund has no plans to increase exposure to the asset class.