PenSam, Denmark’s largest pension fund, which has around €24bn in assets has awarded a €300m (DKK2.2bn) mandate to the Queensland Investment Corporation (QIC) to invest in European private equity investments.
The Australian group will work with PenSam on a three-year investment cycle to offer co-investments and fund commitments for the lower middle-market buyout area of the European market.
QIC is an institutional investment manager, which runs AUS102bn (€59bn) in assets under management. Its private equity arm, QIC Private Equity, runs AUD8.9bn (€5.2bn) and seeks to cover seed and growth stage investments, as well as other areas of the private markets.
