Stockholm (NordSIP) – Danish pension fund PenSam awarded Allianz Global Investors (AllianzGI) a €300 million Article 8 mandate focusing on European global infrastructure projects. The mandate is for an initial three-year investment cycle with the expectation of continued investments thereafter.
“We have high expectations for a partnership with AllianzGI, a globally recognised asset manager with strong expertise in infrastructure and ESG. The collaboration will support PenSam’s ambition to deliver solid, long-term returns for our members,” Jeppe Starup, Head of Private Capital and Real Assets at PenSam, said on this occasion.
PenSam, which provides occupational pensions to over 500,000 Danes working in welfare, primarily in municipalities, but also in regions and private companies covered by the FOA trade union, reported €1.2 billion in infrastructure investments at the end of 2024. The new mandate will significantly expand this allocation, with a strategic target for infrastructure of in PenSam’s flagship product Fleksion of 8.5%, from the current 6%, PenSam tells NordSIP.
The mandate is structured as a dedicated, Luxembourg-based investment compartment, with PenSam investing side by side with Allianz in both funds and co-investments. “AllianzGI applies a rigorous selection process, including comprehensive due diligence and a focus on core+ and value-add infrastructure assets, primarily in Europe,” PenSam’s Starup tells NordSIP. ESG is fully integrated throughout the investment process, with systematic screening, due diligence, and ongoing monitoring. The fact that the fund reports in line with Article 8 of the EU’s Sustainable Finance Disclosure Regulation (SFDR) reflects the mandate’s commitment to promoting environmental and social characteristics. Exclusion criteria and ESG standards are aligned with both AllianzGI’s and PenSam’s policies
“We are delighted about this partnership with PenSam, a leading Danish institution and like-minded investor, which reflects the strength of our investment capabilities and our deep understanding of long-term institutional needs and ESG criteria,” Maria Aguilar-Wittmann, Co-Head of Infrastructure Fund, Co-Investments & Secondaries at AllianzGI adds.
