The real estate arm of Denmark鈥檚 biggest pension fund ATP has appointed Kenneth Olsson as its first CIO 鈥� a newly-created role within the Copenhagen-based unit ATP Real Estate.
Olsson currently works as real estate investment manager for Danish labour-market pension fund Industriens Pension, but previously worked for ATP Real Estate for many years as portfolio manager and deputy director 鈥� from 2003 to 2018.
Olsson said: 鈥淎TP Real Estate is changing, and I look forward to becoming a part of it.鈥�
ATP Real Estate said that in the new role of CIO, Olsson will be responsible for both Danish and foreign investments as well as asset management.
Olsson鈥檚 task will be to develop the investment strategy in collaboration with the new top management team, which currently consists of Martin Vang Hansen 鈥� the chief executive of ATP Real Estate who took over from Michael Nielsen at the beginning of this year 鈥� and director of property management Christian Hartmann, it said.
鈥淭oday, ATP Real Estate is a big player in the market, and we will continue to do this within the office, hotel and housing market, and we will see more development projects like those we already have, for example the Falkoner Centre in Frederiksberg,鈥� said Olsson, who is set to start work at the ATP unit on 1 September.
Vang Hansen said that as Olsson had worked with the real estate market for more than 20 years and also knew ATP Real Estate鈥檚 role and investment thinking, he would significantly strengthen the team.
鈥淎t the same time, Kenneth is a strong team player with managerial values, which is completely in line with ATP Real Estate,鈥� he said.
The chief executive said he was looking forward to continuing the transformation his organisation was undertaking, with Olsson on board.
Meanwhile, Jan 脴stergaard, head of private investment at Industriens Pension, told IPE: 鈥淲e have had a really good collaboration with Kenneth, and I have really appreciated his work during his time in Industriens Pension. I wish him every success in the new position in ATP Real Estate.鈥�
The fund added that it will now start looking for a replacement and that Olsson will continue to work for Industriens Pension until he joins ATP Real Estate.
At the end of 2018, ATP Real Estate managed DKK47.8bn (鈧�6.4bn) of investment assets.
