In this podcast, former Swedish Army Commander and NATO representative Major General Karl Engelbrektson joins defence investor Joakim Agerback to discuss the profound geopolitical shifts reshaping global markets.
From the end of the post-Cold War “peace dividend” to rising defence spending, AI, cyber security, drones, space infrastructure and energy resilience, they explore why security is emerging as one of the defining investment themes of the next two decades.
The conversation examines how governments, industry and private capital must work together in an increasingly fragmented and competitive world order.
Major General Karl Engelbrektson served as Chief of the Swedish Army from 2016 to 2023, overseeing a major period of military modernization and growth. Previously, he held senior NATO and EU roles and commanded the Nordic Battlegroup. Since retiring, he has worked as an advisor, board leader, and security-sector executive, including with the Stockholm School of Economics.
Joakim Agerback is Portfolio Manager of the Finserve Global Security Fund and Head of Portfolio Management at Finserve Nordic. With more than 20 years of experience in asset management, he has held senior roles including CEO, CIO, CFO, and CRO. A specialist in defence, cybersecurity, and geopolitical investing, he co-developed one of Europe’s pioneering security-focused investment strategies.
