A group of Danish pension fund financiers has dedicated $550m to African facilities through a fund introduced by the household structure behind the nation’s renowned shipping business, Maersk.
PensionDanmark, PKA and Lægernes Pension, 3 of the Nordic country’s biggest retirement plans, have become the founding financiers in the Africa fund, which has a target of raising $1bn over the next 12 months.
The fund will be run by a newly-formed group within AP Møller Holding, which is the financial investment arm of the AP Møller Fund, the household structure of the creators of Maersk. The Dkr122m (EUR16bn) structure developed AP Møller Holding in 2013 to buy services that “have a favorable effect on society”, according to its president, Robert Mærsk Uggla.
In a declaration accompanying the fund launch today, Uggla stated: “Africa, with a working-age population most likely to reach more than one billion people in the next years, has a pushing requirement for more financial investments in facilities.”
The brand-new fund will concentrate on financial investments in Africa’s transportation and energy facilities. It is run by a group led by Kim Fejfer, the previous president of Maersk’s container-terminals department, APM Terminals.
Peter Damgaard Jensen, the president at PKA, stated that his organization has had “favorable experiences buying Africa, and we have for a very long time wished to invest more on the continent”.
Torben Möger Pedersen, the president of PensionDanmark, stated AP Møller had “comprehensive financial investment experience” and “an appealing pipeline of prospective financial investment jobs”.
Jensen and Pedersen included that Africa financial investment was “in line with the UN’s Sustainable Development Goals” was a more draw.
The AP Møller Fund, developed by Maerk’s creator Arnold Peter Møller in 1953, owns a 41.5% stake in the shipping group and a 20% stake in Denmark’s greatest bank, Danske Bank.