PKA, Hellerup, Denmark, is building out its new in-house real estate unit, confirmed Henrik Dahl Jeppesen, its newly appointed director.
Mr. Jeppesen joined the pension fund, which has €53.7 billion ($59 billion) in assets, in February and is leading PKA Ejendomme, the unit that runs the asset management of directly owned Danish real estate.
The unit's objective is to ensure local real estate is being managed with social responsibility and that buildings meet green investment standards.
The initial investment is 27 billion Danish kroner ($4 billion), which is allocated to residential real estate and commercial real estate such as offices.
"We have just started and are currently building a real estate team," Mr. Jeppesen told Pensions & Investments.
PKA plans to increase its team to eight executives by the end 2023 and about 25 people by the end of 2024, he added.