Gustaf is the deputy CEO and Partner of Kestrel Investment Partner. He is portfolio manager for Kestrel Global Portfolio, that invests across global markets in listed equities, debt securities, money market instruments, real estate, commodities and cash. Until March 2015 Gustaf was the head of the Asset Management and deputy CEO of Third Swedish National Pension Fund, AP3. AP3 has investments in global equities, global bonds, hedge funds, private equity, real estate, forestry, infrastructure and insurance linked securities. Prior to working at AP3, Gustaf worked for ten years with global tactical asset allocation at Alecta and AP1. Before that he held positions at Nordea and Swedbank as a trader of fixed income instruments, equities and foreign exchange. In total, Gustaf has 30 years of experience in the financial industry. He holds a PhD in Finance from Stockholm School of Economics, a MA in Economics from University of British Columbia and a BA in Economics from the University of Stockholm. Gustaf’s research is focused on volatility forecasting. He is also an author of a textbook on the Swedish financial markets.