Christiane Eckert, chief portfolio manager of global real estate at Danish pension fund ATP Ejendomme, has called time on her three-year spell with the company.
In a note to contacts, she said after three interesting years she would pursue new adventures as ATP had decided to significantly reduce its exposure to foreign real estate investments.
‘Following 20+ years with the pedal to the bottom in the real estate industry, this is a good opportunity to take some time to reflect, educate myself and to find the next true calling,’ she stated.
ATP Ejendomme is currently reviewing its real estate strategy as the investor does on a regular basis. The company said it was too early to comment on its international investments going forward.
Martin Vang Hansen, CEO of the pension fund's property arm, took over from Michael Nielsen towards the end of last year.
It was reported at the time that ATP was focusing on its development pipeline and improving existing domestic assets as a new strategy takes shape.
Vang Hangsen explained the pension fund had grown substantially in the past five, six or seven years, and what it was focusing on in 2020 – and probably 2021 as well – was building up a strong asset management function to take care of customers as well as a strong ESG focus.
The company owns approximately 80 assets in Denmark, Germany, Belgium and the UK.
According to its annual review, it owns DKK 49 bn (€6.58 bn) of real estate, just over-three quarters of which is in direct real estate and one third in real estate funds.
It generated a rate of return of 5.6% from real estate in 2019.
