Wallenberg Investments AB manages and develops the assets of the Wallenberg Foundations
The assets of the Wallenberg Foundations are managed through engaged ownership, a tradition that has existed with the Wallenberg family since the founding of Stockholms Enskilda Bank in 1856. The assets of the Foundations are primarily managed on a long-term basis through direct or indirect holdings in companies with world-leading market positions. The largest assets of the Wallenberg Foundations are the partly-owned industrial holding company Investor AB, listed on the Stockholm Stock Exchange, and the wholly-owned holding company FAM AB.
The largest Wallenberg Foundations are the Knut and Alice Wallenberg Foundation, the Marianne and Marcus Wallenberg Foundation, and the Marcus and Amalia Wallenberg Foundation. To ensure that their assets are managed in a professional manner, the Foundations have assigned this management task to the wholly-owned company Wallenberg Investments AB.
Wallenberg Investments AB is responsible for managing the capital of holdings and their corporate governance on both a short-term and long-term basis. The Foundations have assigned the wholly-owned company Wallenberg Foundations AB to manage the administration and finances of both the Foundations and Wallenberg Investments AB.
Ownership and holdings
Through the Wallenberg Foundations, the Wallenberg family is deeply engaged in research and education and as a long-term and active owner of the companies where the Foundations are majority owners, either directly or indirectly. Dividends received from holdings are utilized for research and education grants that strengthen Sweden as a country over time. The diagram below outlines the various holdings and the ownership structure. At year-end 2023, the combined assets of all the Foundations had a total value of approximately SEK 262 billion.
Mission and responsibilities
Wallenberg Investments AB’s mission is to make long-term and strategic decisions on how the assets of the Wallenberg Foundations is to be managed and how their ownership role should be executed and developed in holdings. The company’s main responsibility is to ensure that the Foundations assets are managed and grown over time so that grants can be increased gradually.
Working to ensure that the right people are involved in the boards, and in positions managing business operations, is another focus area for Wallenberg Investments AB. Management of liquid funds and assets that are not currently invested in long-term holdings is another task. Individual decisions taken within the Foundations, Investor AB, FAM AB and Navigare Ventures AB are the responsibility of their respective boards, while Wallenberg Investments AB focuses on broader issues concerning the assets of the Foundations, including their composition, and the development of the ownership concept for the holdings.
Board of Directors
Marcus Wallenberg, Chair
Jacob Wallenberg, Vice chair
Sara Mazur, director
Jacob de Geer, director
Helena Hedblom, director
Daniel Sachs, director
News
Comment on Johan Forssell leaving as CEO of Investor AB at the 2024 Annual General Meeting
"Johan Forssell has done an outstanding job as CEO of Investor AB, which is evidenced not least by the returns and the dividends that the Wallenberg Foundations have received and in turn have been able to provide in funding to Swedish basic research and education. Since Johan has taken the decision to leave Investor AB, we are pleased that as part of his future engagements he will, among other things, support our work in developing the industrial assets within the Wallenberg Investments' ecosystem."
Comment about status update on SAS' equity solicitation process
“It is very positive to see that, after a competitive process, there is now a bid from a strong consortium consisting of Castlelake, L.P., on behalf of certain funds or affiliates, Air France-KLM S.A. and Lind Invest ApS, together with the Danish state. SAS' decision to proceed with the consortium's bid is a crucial step in the implementation of SAS Forward and shows that there are conditions for a future strong SAS that will be able to serve Scandinavian customers in the best way moving forward. As the company has communicated, the goal is to complete court approvals of the chapter 11 process in USA by the end of the year, which in 2024, among other things, will be followed by regulatory approvals. We note that current shareholders, as a result of the planned actions, will not receive any compensation and will not remain as owners. This also includes Wallenberg Investments AB's ownership in SAS. Wallenberg Investments AB has previously announced that when there is a winning bid on the table, we are willing to engage in a dialogue about the future if there is interest from the consortium. Thus, there is no decision today about participation or not on our part; instead, we continue to follow the process.”
Wallenberg Investments AB will merge with Wallenberg Foundations AB
In 2021, the Wallenberg Foundations' wholly-owned holding company Wallenberg Investments AB was established with the aim of long-term management and development of the Foundations' assets. The Wallenberg Foundations' largest assets are the listed partly-owned industrial holding company Investor AB and the wholly-owned holding company FAM AB, including Navigare Ventures AB.
Wallenberg Investments AB's responsibilities include asset management and corporate governance, both in the short and long-term. In order to streamline the work and structure around the Foundations, the intention is that the operations of Wallenberg Foundations AB, which handles administration and the grant processes for the Foundations, will be transferred to Wallenberg Investments AB.
As part of the simplification and clarification of the structure, Dick Lundqvist, currently General Counsel at Wallenberg Foundations AB, will become CEO of Wallenberg Investments AB and Jonas Ragnarsson, currently CEO of Wallenberg Foundations AB, will become Chief Financial Officer and Deputy CEO of Wallenberg Investments AB. The merger will not affect the focus or scope of the operations.
More information
Marcus Wallenberg and Jacob Wallenberg have executive board roles in Wallenberg Investments AB, and Peter Wallenberg Jr in Wallenberg Foundations AB. Their involvement in holdings and international networking activities constitute an important part of their work. For this active work, they receive remuneration that is set to be market-based, on a level with the salary of a CEO for a large, listed company in Sweden that has major international operations. Remuneration in 2022 amounted to SEK 12.3 million each for Jacob, Marcus, and Peter, respectively. Further information about Wallenberg Investments AB can be found in the company's annual report.