Two new hires have been made at ATP PEP, the leading Danish pension fund manager.
Klaus Ruhne has been brought in as vice president to work on due diligence, screening of new fund investment and co-investment opportunities. He was previously in the M&A advisory practice at Danske Bank focusing on food and beverage deals and before that was with Enskilda Securities in London, Stockholm and Copenhagen.
In addition, Kati Ojaluoma has been hired as an analyst to work primarily on the screening of new fund opportunities. She was previously an analyst at Reuters in London and Helsinki.
ATP PEP managing partner Jens Bisgaard-Frantzen said: “We are seeking to take a proactive stance rather than just look at what is put in front of us. We have a huge database which allows us to know when firms are in the fundraising market and who we should be meeting over the next 12 months.”
Bisgaard-Frantzen said the firm expects to make several more new hires in 2004. The team currently has 12 investment professionals in Copenhagen, who will be responsible for a E500m private equity investment programme next year. ATP PEP has four nationalities covering most of Scandinavia and parts of continental Europe.
ATP PEP is set to announce four new fund commitments in the US before the end of the year. Rather than implying a shift in focus in favour of the US market, Bisgaard-Frantzen said it is a ‘coincidence’ and is part of ATP PEP’s effort to ‘build a global portfolio and commit to managers that are out-performing the market’. So far this year, ATP PEP has made five commitments to European funds, including Graphite Capital Partners VI, a UK-focused mid-market fund.
Of market trends, Bisgaard-Frantzen said: “The fundraising market has been driven by what is ‘flavour of the month’ in 2003, which has meant that, for example, French and Italian mid-market buyout funds and the US energy sector have been popular. We will not be drawn to flavour of the month, but rather what we think is a wise way of constructing our portfolio by finding the best managers.”
ATP PEP is an independent organisation based in Scandinavia dedicated to global private equity investment management. ATP PEP was founded in the spring of 2001 and is sponsored by ATP – the Danish Labour Market Supplementary Pension Scheme – and SP – the Special Pension Savings Scheme.