Investor AB, the Swedish investment firm, has taken a Skr3.3bn (€344m) hit on its private equity portfolio in the first nine months of this year, compared with an increase in net asset value of Skr1.7bn for the same period last year.
The fall was "due to sharp declines in stock prices in the public markets", the firm said in a statement. It has made writedowns of Skr2.9bn, 200 times the comparatively negligible Skr15m for the first nine months of 2000. Realisations of Skr74m were only a fraction of last year's Skr1.5bn.
