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New alternatives business at Denmark's PKA invests in US

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  • New alternatives business at Denmark's PKA invests in US

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DENMARK - The new alternatives unit set up by Danish pensions administrator PKA has made two early investments, putting DKK700m (€94m) in two US funds.
PKA AIP (Alternative Investment Partners) is investing DKK280m into venture fund HIG Bioventures, which specialises in investing in companies in the pharmaceutical and medical sectors.

A further DKK420m is going into Arsenal Capital Partners, which focuses on smaller US companies in the healthcare, financial services and special industrial sectors.

PKA said it had already invested around DKK100m in the latter fund and that its experiences had been good.

Jens Henrik Staugaard Johansen, managing partner at PKA AIP, said: "What both funds have in common is their unique business strategies, which have led to high and stable profits, seen historically - in crisis years, as well."

The venture capital fund had distinguished itself by producing good results in a period when other venture funds had not been in a position to deliver respectable returns, he said.

PKA, which runs five Danish pension funds mainly in the healthcare sector, set up PKA AIP at the beginning of April to focus more on private equity, forestry, agriculture and infrastructure.

The new unit is tasked with investing DKK12bn over the next three years.

On top of this, it is expected to undertake a further DKK5bn of direct investments in wind turbines and related infrastructure projects, PKA said.

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