Press Release - 25.04.2025 - 08:00
Lars Larsen Group and PKA join forces to invest in private equity
Lars Larsen Group invests in PKA’s asset manager IIP Denmark and becomes anchor investor in the manager’s future funds. The partnership strengthens IIP’s market position and paves the way for other investors to become part of the assets manager’s future funds.
Two of Denmark’s major investors are partnering to invest in private equity. Lars Larsen Group acquires a stake in the asset manager IIP Denmark, established and owned by the pension fund PKA.
The partnership means that Lars Larsen Group acquires 25 percent of the management company IIP Denmark. Simultaneously, Lars Larsen Group will invest a minimum of DKK 7.5 billion in IIP’s funds through to 2032. PKA continues as primary owner of and the largest investor in IIP.
”We are pleased to enter into this new long-term partnership with PKA and IIP. We deeply respect PKA and IIP and are certain that our shared values will provide a strong foundation for the continued development of IIP. We are impressed by what has already been accomplished and look forward to contributing to realising the potential together with IIP’s skilled employees and PKA,” says Executive Vice President and Chief Investment Officer in Lars Larsen Group, Daniel Albæk.
PKA established IIP Denmark in 2012. The goal was to build an independent, highly specialised unit dedicated to sourcing and managing investments in private equity funds investing in private equity-owned companies.
Today, IIP Denmark manages nearly DKK 100 billion on behalf of PKA’s members and IIP has built a solid portfolio of investments, which delivers continuous strong returns compared to similar funds.
Therefore, Chief Investment Officer at PKA, Michael Nellemann Pedersen, believes it is natural to take the next big step in terms of developing the asset manager.
”We have spent some time searching for the right partner to build on IIP’s success in collaboration with PKA. For many years, our members have enjoyed the benefits of IIP’s expertise and attractive returns, but we have always believed the potential to be even greater with an expanded group of owners. In Lars Larsen Group, we gain a professional and esteemed partner, who is financially strong and shares our ambitions for IIP”, the Chief Investment Officer says.
Paving the way for more investors
IIP Denmark looks forward to welcoming Lars Larsen Group in the owner group. In addition, Managing Partner of IIP Denmark Maria Hjorth, expects the partnership will support the expansion of IIP’s investor base.
”That a respected investor such as Lars Larsen Group decides to invest in IIP Denmark is a significant milestone for us, and I regard it as a validation of the work and results the employees at IIP deliver. It enables us to continue our growth while keeping costs down for our investors,” she says.
Having both Lars Larsen Group and PKA in the group of owners also paves the way for IIP to attract more investors to future funds and thereby collectively scale IIP’s platform.
“Many investors have a strong interest in private equity fund investments, but it remains a complex and cost-intensive asset class to access independently. At IIP, we offer the necessary expertise, network, and experience – and have demonstrated our ability to deliver attractive returns on investments,” says Maria Hjorth.
The transaction is subject to relevant approvals.
About IIP Denmark
IIP Denmark is an independent manager of private equity investments. The company was established as PKA AIP in 2012 and changed its name to IIP Denmark in 2019. It is owned by PKA and currently manages assets totalling nearly DKK 100 billion on behalf of PKA’s members. IIP also manages capital for the Greenlandic pension fund SISA and several other external investors.
About PKA
PKA is one of Denmark’s largest labour market pension funds. PKA provides lifelong security to a community of more than 365,000 members from the social and healthcare sectors. The members are also the owners of PKA. On their behalf, PKA manages assets of DKK 500 billion, which are invested, among other things, in solar and wind power and the UN Sustainable Development Goals.
