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PenSam joins the AIP platform
The pension funds PKA and PenSam with more than 400 billion Danish kroner in combined assets under management enter into a partnership on direct infrastructure investments.
The agreement implies that PenSam buys a 10% stake in PKA’s successful infrastructure investment unit, AIP Management.
PenSam expects to commit up to three billion Danish kroner in infrastructure investments via AIP in the first three-year period.
The partnership with PKA is part of PenSam’s strategy, which seeks to form partnerships with other investors, creating a basis for a more efficient business.
“It makes sense to enter into partnerships within alternative investments because we pool resources and create better results for our members at lower costs. PKA’s starting point for making investments is very similar to ours in terms of risk profile and responsibility, which is important for us when we choose our partners,” says Torsten Fels, CEO of PenSam, who will also join the board of AIP Management P/S.
“AIP is a professional player who has the resources and competencies to find stable and long-term investments and who has managed to produce significant results. This gives us access to interesting projects, which we have not had the opportunity to pursue on our own,” says Torsten Fels.
Opportunity to develop AIP further
For PKA, the partnership with PenSam allows for further development of the already successful infrastructure investment area explains CIO at PKA, Michael Nellemann Pedersen.
“PKA has achieved great results within alternative investments over a number of years which is large part due to AIP. The partnership with PenSam offers the opportunity to further develop AIP and build on the success we have had in finding interesting investments, making good returns for the members and influencing the climate policy agenda, says Michael Nellemann Pedersen, adding:
“Together we can expand our network, enabling us to pursue new and bigger investments. The scale we get from working together makes it possible to keep costs down.”
At AIP, Managing Partner Kasper Hansen looks forward to welcoming PenSam and taking advantage of the additional investment opportunities created by the cooperation.
“I’m proud to welcome another large Danish pension fund to the AIP platform. PenSam’s decision to invest via AIP is a recognition of the AIP team that has consistently executed on a focused strategy. So far, this has resulted in more than 10 successful direct investments. The partnership between PKA and PenSam holds great prospects and will create scale, synergies and solid risk-adjusted returns for both PKA and PenSams members,” says Kasper Hansen.
Facts about AIP Management:
Originally established as PKA AIP in 2012, AIP has grown into an independent investment manager dedicated to advising institutional investors on direct investments into energy and infrastructure assets in Europe and the US.
AIP made its first infrastructure investment in 2013 and has since made an additional 10 successful, direct investments.
The company has invested more than 20 billion Danish kroner in direct infrastructure in Europe and the United States.
AIP Management employs a total of 18 employees.
Facts about PenSam
PenSam manages pensions for 400,000 members, including social and health professionals and educational assistants in municipalities, regions and private companies. PenSam has a total of 138 billion Danish kroner in assets under management
Facts about PKA
PKA manages pensions for four pension funds within the social and health care sector in Denmark with more than 300,000 members on combined labour market agreements. If you are an independent or private employee outside the agreement, you can also become a member of PKA. PKA has a total of 275 billion kroner in assets under management