Danske Bank’s pension arm Danica Pension has sold off its Swedish branch, Danske Pension Försikringsaktiebolag, to a consortium of investors consisting of the Nordic private equity fund Polaris, the German private equity fund Acathi, Sampension and Unigestion. Jacob Aarup-Andersen, head of wealth management at Danske Bank, said the co-operation between the Swedish and Danish businesses will, however, continue after the DKK 1.9 billion (EUR 254.5 million) sale has gone through. Final approval for the sale from relevant authorities is expected to come through during the first half of 2019.
“We will continue to focus on further developing the best pension solutions in Denmark and Norway, where our business models are more aligned and there are synergies across the markets. The sale does not affect Danske Bank’s growth strategy in the Nordic markets, neither generally nor in the Wealth Management area, where we see good growth,” Jacob Aarup-Andersen said in a statement.
In other news, Danske Bank is looking to add a portfolio manager and product manager to its manager and fund selection team. More information can be found here.
East Capital acquires Swedish fund management company Monyx
East Capital Holding has acquired Swedish fund management company Monyx, consisting of Monyx Asset Management and Nordic Fund Services S.A. from its owner NewCap Holding. According to a statement from the companies, Monyx will remain as a separate entity within the group focusing on Nordic and Global strategies while East Capital Asset Management will retain its focus on emerging and frontier markets. “We see a great opportunity in sharing our institutional investment management experience, as well as our strong sustainability and governance expertise [with Monyx],” said Albin Rosengren, partner at East Capital. He added that the firm was planning to develop and support Monyx by “providing additional resources to the investment team”.
Norwegian Government Pension Fund Global sells off New York real estate
The Norwegian sovereign wealth fund, in partnership with TH Real Estate, has signed an agreement to sell its holding in 470 Park Avenue South, New York, to a partnership made up of SJP Properties and PGIM Real Estate. The fund made a profit of USD 122 million (EUR 107.6 million) from the sale.
Varma reconstructs its real estate portfolio from gingerbread houses
Christmas is almost here and the Finnish pension company Varma has launched a competition where the aim was to reconstruct some of its most notable properties in gingerbread form. You can vote your favourites on Twitter, Facebook or Linkedin.
Tuoreimmassa hankkeessamme työskenteli 25 varmalaista piparikiinteistökehittäjää. Lopputuloksena syntyi 9 upeaa piparikiinteistöä. Mikä on sinun mielestäsi paras? Kommentoi alle. Äänestä viimeistään 17.12.! Voittajakiinteistö julkaistaan 18.12. #piparikisa #varmailo pic.twitter.com/74qn3IKZJB
As a response VER’s CEO Timo Viherkenttä tweeted to the Ministry of Finance saying: “Hi, if you would allow direct real estate investments to VER, we too could organise gingerbread house competitions.” VER is currently only allowed to hold indirect real estate investments in its portfolio.
Hei @VMuutiset. Jos sallisitte VERille suorat kiinteistösijoitukset, mekin voisimme järjestää piparkakkutalokilpailuja! @LMorttinen @JuhoKostiainen https://t.co/nFKIqCbsB3
You can read more on VER’s and Varma’s real estate strategies in the roundtable discussion that will be published in the next issue of Nordic Fund Selection Journal.
<strong>Danske Bank sells off its Swedish pension arm
Danske Bank’s pension arm Danica Pension has sold off its Swedish branch, Danske Pension Försikringsaktiebolag, to a consortium of investors consisting of the Nordic private equity fund Polaris, the German private equity fund Acathi, Sampension and Unigestion. Jacob Aarup-Andersen, head of wealth management at Danske Bank, said the co-operation between the Swedish and Danish businesses will, however, continue after the DKK 1.9 billion (EUR 254.5 million) sale has gone through. Final approval for the sale from relevant authorities is expected to come through during the first half of 2019. “We will continue to focus on further developing the best pensionIf you’re new to Tell Media Group, create an account.
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