Pensions
PensionDanmark Sells Tesla, Puts It on ‘Exclusion List’ Over Union Dispute
The car manufacturer is refusing to enter into a union agreement in adjacent Sweden.
CIO Kåre Hahn Michelsen has been promoted to succeed Søren Kolbye Sørensen as head of the $21.5 billion fund.
Torben Pedersen, the pension fund’s first employee and CEO, will leave the post after more than 30 years.
The Netherlands and Denmark round out the top three for the second straight year.
Falling equity markets and rising interest rates are blamed for the portfolio’s $7.7 billion loss.
PKA Private Funds IV is part of the pension’s strategy to invest in unlisted growth companies.