– Den Danske Bank enters fund-of-funds arena

Den Danske Bank has joined the ranks of fund managers seeking to cater for European institutions’ growing interest in venture capital and private equity investment. Its newly formed subsidiary Danske Private Equity in March closed Danske Private Equity Partners (Danske PEP) on DKr2.5 billion (e336 million). The identities of investors in the fund-of-funds have not been disclosed, but the vehicle, Denmark’s first third-party fund-of-funds, is thought to have drawn commitments from institutional and corporate sources within and beyond the Nordic region.

Danske PEP will build a portfolio of fund holdings to secure exposure to three categories of investment corporate restructurings in Europe, and technology investments in the Nordic region and in the US where Danske Private Equity believes optimal returns can be achieved.