PKA, Hellerup, Denmark, committed 250 million Danish kroner ($39.7 million) to Maj Invest Financial Inclusion Fund II, confirmed a spokesman for the pension fund.
Maj Invest's new fund closed at 870 million kroner. The private equity fund invests in banks that provide loans and other financial services to poor and middle-class customers in Latin America, Africa and Asia.
The 250 billion kroner fund pension fund committed 200 million kroner to a previous Maj Invest fund, the spokesman added. That fund, Danish Microfinance Partners — for which PKA was the main investor — has granted loans to 5.5 million people in Peru, Bolivia, India, Senegal and other countries.
A news release from Maj Invest said the new fund is a close-end private equity strategy.
The new fund has already made three investments in Peru, India and Africa, said a separate news release from PKA. The fund's 10-year lifetime is set to end in 2025, and it is expected that a total of six investments will be made.