DENMARK - ATP, Denmark's largest pension fund, has committed $90m (€63.1m) to a core US real estate managed by Invesco Real Estate.
ATP Real Estate, which manages ATP's portfolio of investments in more than 30 non-listed real estate funds in Europe and the US, has invested in the Invesco Core Real Estate-USA fund.
The commitment is likely to be one of the last investments made for ATP Real Estate Partners I, a fund of funds structure established in 2006, before the scheme begins investing its follow-on programme ATP Real Estate Partners II.
ATP Real Estate announced at the beginning of the year that it had been allocated a further €700m in equity to invest in non-listed real estate funds in Europe and the US.
ATP Real Estate has been looking to increase its exposure to the US real estate markets in recent months and has been undergoing due diligence on core US real estate funds throughout 2010 and into 2011.
The latest investment is a continuation of ATP Real Estate's US core investment focus, which started with a $100m commitment to the LaSalle US Core fund. It is the first investment ATP Real Estate has made with Invesco.