ATP Lowers Valuation of Its Investments – Impact of Northvolt Noticeable

Denmark's largest pension fund, ATP, is compelled to adjust the value of its six billion dollar portfolio of non-publicly traded assets. The reason for this is the financial situation of the struggling battery manufacturer Northvolt. This information comes from a person familiar with the matter. ATP has already invested 2.3 billion kroner (equivalent to 335 million dollars) in Northvolt, representing a five percent stake. In its quarterly report for the third quarter, released on Wednesday, the asset manager stated that it had made "extraordinary write-downs in the area of private equity.