Danish professional pension funds DIP and JØP have invested in nine properties in Copenhagen and two suburbs for DKK860m (€116m).
The funds bought the shares of TG Partners, a private equity fund managed by Denmark’s privately held Thylander Group.
DIP, the Danish pension fund for engineers, and JØP, the lawyers and economists’ pension fund – which merged their investment and administration operations a few years ago – said they had bought all the shares of TG Partners, which owns six residential properties and three office properties in Copenhagen, Frederiksberg to the west of the city centre and Hellerup to the north.
TG Partners owns the nine properties via a series of property companies, the pension funds said.
DIP is investing around DKK300m in the joint purchase, while JØP is investing DKK560m.
The assets contain 140 rental homes, as well as several retail and office rental units.
The deal took effect at the end of 2016.
DEAS Property Asset Management will now undertake the asset management of the properties, while DEAS will carry out their administration, DIP and JØP said.
The Danish firm DEAS administers several other real estate assets for DIP and JØP.
According to information from the Thylander Group, TG Partners – also known as the fund Thylander 1 – was established in 2008 to invest in properties in Copenhagen following the financial crisis.
In 2010-11, the group said it invested a total of DKK750m in 10 properties in Copenhagen, Frederiksberg and Hellerup.
