PKA and Lars Larsen Group have entered into a partnership agreement, resulting in Lars Larsen Group acquiring a 25% equity interest in the asset manager IIP Denmark, which is owned by PKA. The agreement also implies that Lars Larsen Group will invest a minimum of DKK 7.5 billion in IIP Denmark’s funds in the period up to 2032.
IIP Denmark is an independent private equity investment manager, which was established in 2012 and manages DKK 100 billion on behalf of PKA’s members. In addition, IIP Denmark also manages capital from the Greenlandic pension fund SISA and other external investors.
PKA is one of Denmark’s largest pension funds, managing labour market pensions for various occupational groups. The company was formed in 1954 and is owned by its 360,000 members. On behalf of its members, PKA manages investments of more than DKK 500 billion, which are invested, among other things, in wind and solar energy and the UN Sustainable Development Goals.
Lars Larsen Group is owned by the Brunsborg family, descendants of Lars Larsen, who founded Jysk in 1979. Lars Larsen Group, which was formed in 2020, owns several businesses and is also an active investor in funds, real estate and shares.
Accura advised PKA in connection with the partnership.