AP7, one of the Swedish national pension schemes, has appointed Hamilton Lane Advisors and HarbourVest Partners as initial managers of its rapidly-expanding commitment to private equity.

The fund has allocated 4% each to private equity and hedge funds. Its overall value currently stands at almost Skr20bn (€2.2bn) and Peter Norman, the executive president, said he expects net inflows of about €600m a year. If he is right, the fund's current private equity commitment of €86m will double in three years.