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Lessons from Danish pensions sector
18 February 2014
Anthony Lane considers how UK pension funds looking to invest in infrastructure can learn from Denmark
In Denmark, hardly a week goes by without a pension fund
announcing that it is buying an infrastructure asset or
increasing its overall allocation. Industriens Pension, which
signed a PPP to construct a hospital wing at the end of last
year, plans to double its allocation, while PKA intends to
increase its total investment in infrastructure from
£660mn in 2013 to £1.8bn over the next few
"Infrastructure is proving very attractive up here in
Scandinavia," confirms Casper Hammerich of Danish consultancy
Kirstein, which conducts an annual survey of Nordic pension
fund allocation intentions. "If we look at the survey data,
interest in infrastructure is mainly a Danish thing –
that's where we see the highest interest. It's where we've seen
the most investors commenting on various infrastructure
projects, mainly greenfield projects."
The standard-bearer for this government-pleasing charge into
alternatives has been the £16.5bn PensionDanmark fund,
the largest in Denmark,...
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