Danish labour market pension fund PenSam is committing an initial €300m to Allianz Global Investors (AllianzGI) for a global infrastructure investment strategy.
The €29bn pension fund has awarded the mandate to AllianzGI to allocate the capital to global projects, focusing particularly on Europe.
PenSam, which is expanding its portfolio of funds and co-investments with the new partnership, said it intends to make further investments following the initial period.
Jeppe Starup, head of private capital and real assets at PenSam, said: “We have high expectations for a partnership with AllianzGI, a globally recognised asset manager with strong expertise in infrastructure and ESG. The collaboration will support PenSam’s ambition to deliver solid, long-term returns for our members.”
Maria Aguilar-Wittmann, co-head of infrastructure fund, co-investments and secondaries at AllianzGI, said: ”We are delighted about this partnership with PenSam, a leading Danish institution and like-minded investor, which reflects the strength of our investment capabilities and our deep understanding of long-term institutional needs and ESG criteria.”
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