The former chief investment officer of two major pension plans, one in Canada, the other in Denmark, is launching his first investment fund at the firm he left to start.
Bjarne Graven Larsen’s Copenhagen-based Qblue Capital will soon put out a multi strategy risk premia fund, known as Qblue Luxembourg. For two years until mid-2018, Larsen was the CIO of the $140 billion Ontario Teachers’ Pension Plan and before that was chief of Danish pension giant ATP (now $168 billion) for 11 years.
When he ran ATP, Larsen revamped its investment portfolio from having low-risk bonds and return-seeking equities to a broader structure—with strategies for equity, credit, nominal interest rate, inflation, and commodity. Several years after he departed, the portfolio was remodeled into a four-category structure, inspired by Ray Dalio’s All-Weather Portfolio.
Larsen has recruited several financial pros with ATP backgrounds for his new endeavor’s maiden voyage, including co-founder Fredrik Martinsson, another previous CIO at the Danish retirement organization. Larsen will be the head of Qblue, with Martinsson as its CIO.
“Based on our collective experience, we want to help institutional investors achieve their objectives by developing and delivering robust and sustainable investment solutions with superior risk-adjusted returns at an attractive price,” Larsen said.
Larsen left Ontario teachers’ last June, and was soon replaced by Ziad Hindo. Larsen co-founded Qblue last Halloween.
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Tags: ATP, Bjarne Graven Larsen, Ontario Teachers' Pension Plan, Qblue Capital