Polhem Infra

Polhem Infra

Polhem Infra was formed in 2019 as a joint corporation owned by AP-Fonden 1, AP-Fonden 3 and AP-Fonden 4. The structure channels capital from the three pension funds into direct ownership of operating infrastructure businesses in Sweden and neighboring Nordic countries. The firm deploys capital across renewable power generation, district heating and digital infrastructure. Confirmed holdings include 100 percent of Arelion, 40 percent of Solör Bioenergy Group, 49 percent of Pori Energia and multiple onshore wind farms such as Skaftåsen and the Lynx portfolio in Lycksele. It also maintains a framework agreement with Solkompaniet for up to 600 MW of solar capacity. Investments occur through direct equity purchases and co-investor structures rather than blind-pool funds. The firm maintains a small internal team in Stockholm and engages external advisors for transaction execution. Service providers retained since 2019 include PwC as auditor and multiple Nordic and international law firms for specific mandates. No additional offices outside Sweden are recorded. Ownership by three separate AP funds creates a multi-principal governance model that requires coordinated approval for each acquisition and exit. This structure differs from single-fund pension mandates or traditional family offices.