ATP seeks up to 15 fund investments

Copenhagen-based ATP Real Estate, a significant investor in opportunity funds, says it is looking to deploy €700 million in fresh real estate acquisitions.

Denmark’s ATP Real Estate has received the green light to invest €700 million in unlisted real estate, joint ventures and club deals on behalf of the country’s national pension scheme.

In an interview in this month’s PERE magazine, Michael Nielsen, managing director of real estate, said he expected to build a portfolio of between 12 and 15 fund investments for the new programme.

He noted there would be a greater focus than before on club deals and joint venture structures, rather than commitments to large funds with multiple investors. However, Nielsen was quick to add, “There is still room in our programme to invest in more risky products in opportunistic real estate and the value-added space.”

The last commitment ATP Real Estate made was to The Townsend Group’s participation in the Brookfield Asset Management’s turnaround consortium in 2010 for the pension fund’s previous €1 billion programme, which is now fully invested.

Other commitments made to that €1 billion effort were to LaSalle Investment Management for a diversified core US strategy, to which it committed €70 million, and Heitman’s Central and Eastern European fund, to which it committed €75 million. In addition, Nielsen said ATP was “in the queue” for two other US funds.

See this month’s magazine for more. Click here.