Realdania, Copenhagen, hired Greylock Capital Management to run $75 million in its emerging markets high-yield and opportunistic debt strategy, confirmed Leisa Little, Greylock spokeswoman.
The manager was selected following an internal shortlist search that the €3.1 billion ($4.4 billion) foundation began in 2010, Ms. Little said.
“We believe Greylock Capital's non-consensus and idiosyncratic strategy offers us the legitimate diversification in our portfolio that we have been seeking,” Jesper Walther Sorensen, investment manager at Realdania, said in a Greylock news release on the hire.
The foundation invests in stocks, bonds, real estate and private equity, using proceeds “to improve quality of life for the common good through the built environment,” according to its website.
Realdania officials could not be reached for additional information.