DENMARK – Troels Gunnergaard, the head of property investment at Pensionskassernes Administration (PKA), has resigned to establish his own consulting firm, Gunnergaard Consult.

IPE understands that Gunnergaard’s new consultancy will be based in Horsholm.

It is unclear whether he will lead a small consulting team, or whether he will head up the firm by himself.

Late last year, nine pension funds – including eight PKA schemes – were involved in a decision to invest €63m in non-listed companies in less developed countries in a public-private initiative under which the Danish government will share many of the preparatory costs.

PKA is headed by chief executive Peter Damgaard Jensen, and covers nine labour market pension funds in the healthcare sector.

It has a total of €14bn in assets under management. It has more than 200,000 members and over 30,000 pensioners.