Stapi Pension Fund

Stapi Pension Fund

Stapi Pension Fund was established in 2005 in Akureyri, Iceland. Jóhann Steinar Jóhannsson is chief executive. The fund provides retirement, disability and survivor benefits under both mandatory and voluntary arrangements and runs the separate Akureyri municipal scheme. The fund holds an 18 percent allocation to private equity that includes commitments to SÍA V and International Private Equity Fund II L.P. It owns a 16.93 percent stake in Íslandshótel hf. and maintains indirect exposure to Reitir fasteignafélag hf. and Heimar hf. through listed equity positions. Additional holdings include Jarðvarmi slhf. and HS Orka hf. in the energy sector. Geographic exposure centers on Iceland with smaller positions in the United States through vehicles such as the KKR Private Equity Fund. The fund reports no disclosed headcount. It maintains memberships in UN PRI, Climate Investment Coalition since 2021, IcelandSIF, AIMA and Festa. Service providers include KPMG ehf. as auditor and Kvika banki hf. as custodian. In May 2025 the fund held its annual general meeting in Akureyri to address board elections, accounts and investment strategy. Stapi operates as a statutory public pension fund with an explicit mandate to serve a defined regional membership base. Governance is exercised through a board that includes representatives from municipal employers and member groups, creating a direct link between contribution flows and investment decisions that is distinct from typical corporate or multi-employer plans.