Kenneth Winther was named executive director and CIO of Realdania, Copenhagen, replacing Peter Johansen, who will depart the Danish philanthropic association in mid-February, Mr. Johansen said Thursday in an email.
Mr. Johansen will take up a role as an independent strategic investment adviser, he said.
Mr. Winther will be in charge of Realdania's investments and the association's investment team and will also focus on implementing a new investment strategy in 2020, which will be discussed at a board meeting in late December.
Realdania, previously a mortgage lender, is a sustainable investor in knowledge, innovation and sustainable economy locally. The €2.9 billion ($3.2 billion) fund is focused on bettering Danish municipalities and businesses.
Mr. Winther previously worked as head of investments at Nordic insurance company Tryg Invest.