DENMARK - EUR35bn Arbejdsmarkedets Tillaegspension (ATP) is looking to commit between EUR500-700m in global real estate over the next four years.
The fund has hired Bacon & Woodrow in London and Baring, Houston & Saunders as primary and secondary advisers respectively to expand on its current portfolio.
ATP holds EUR1.2bn through direct holdings - managed by the fund’s in-house unit, ATP AS (ATP Real Estate) - and is now looking to invest in up to four more European holdings this year.
To some extent the fund is heading down the fund of funds route, looking at limited partnerships and tax transparent holdings, said Lars Frederiksen, managing director of real estate investments.
The move in its entirety is likely to render opportunities for fund managers in later years, some of whom will act independently of ATP, and others who will be followed more closely by the fund, added Frederiksen.
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