Danish pension fund ATP has closed its sixth private equity fund of funds, ATP Private Equity Partners VI, at €800m.
It has changed its investment strategy for the new fund. It will now aim to make fewer but larger investments in buyout and distressed vehicles than it has done previously. It will also focus more on co-investments.
These changes reflect “a desire to reduce complexity and costs as well as [to work] closer with our selected general partners to ensure that ESG and tax matters are in compliance with ATP’s policies,” the investor said in a statement.
The new fund will focus on European and North American investments.
ATP appointed a new chief executive, Christian Hyldahl, just over a year ago.