PensionDanmark has found a new director of real estate.

The Danish labour market fund is appointing Marius Møller to replace Søren Ulslev, who is leaving at the end of this month.

Møller is currently chief executive at NCC Property Development, a company PensionDanmark has worked with on real estate investments.

He is set to take up the new job at PensionDanmark early next year.

Torben Möger Pedersen, chief executive of the DKK171bn (€29bn) pension fund, said: “Marius Møller is just the right person to be at the top of our skilled and ambitious property team and the big projects we are facing.”

He said the pension fund was one of the biggest property investors in the country, with annual investments of DKK2bn-3bn.

“We know him from our many years of working with NCC and are pleased to get him on board,” Möger Pedersen said.

Møller said PensionDanmark’s property team had been behind many of the most interesting property projects in the country in the last few years.

“It has been hard to say goodbye to NCC, but I am looking forward to using my skills and experience on the other side of the table as property owner and investor,” he said.

Before becoming the chief executive of NCC Property development in 2012, Møller worked in other roles at the company since 1996, having worked at Rasmussen & Schiøtz before that, a company that was then taken over by NCC.

Møller will take over in January from PensionDanmark’s deputy director of real estate Karsten Withington Brink, who is set to lead the property team temporarily when Ulslev leaves.

PensionDanmark said its property team now had a portfolio of DKK15bn, including commercial, residential and retail properties, as well as public/private partnership projects.