Searches and Hires

6 Danish pension funds commit to fund focused on UN Sustainable Development Goals

Six Danish pension funds have committed 2.4 billion Danish kroner ($375 million) to a new fund focused on the United Nations' Sustainable Development Goals.

The strategy has been established by the pension funds and the Investment Fund for Developing Countries, known as IFU, which will manage the fund.

IFU provides advisory services and risk capital to Danish companies looking to do business in developing countries and emerging markets.

The pension funds involved are the 768 billion kroner ATP, Hilleroed; 275 billion kroner PKA, Hellerup; €31.3 billion ($36.5 billion) PensionDanmark, Copenhagen; 130 billion kroner Pensam, Farum; and Danish funds for lawyers JOP and for engineers DIP, Frederiksberg, which are set to combine to create a 120 billion kroner fund.

The pension funds and the IFU agreed to establish the Danish SDG Investment Fund, which will contribute to meeting the goals in developing countries, a news release on PKA's website said.

The six funds are committing a total 2.4 billion kronor, with IFU and the Danish state adding 1.65 billion kroner total. A private investor is also committing 80 million kroner.

PKA, PenSam, ATP and PensionDanmark all confirmed they committed 400 million kroner each.

The strategy will invest in companies in Africa, Asia, Latin America and parts of Europe.

Spokesmen for the other pension funds could not be reached for comment by press time.