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Denmark's biggest pension fund set to manage EUR 1.3bn crisis re-capitalization fund

The Danish government wants to set up a rescue fund managed by ATP to invest in large companies in need of capital due to the corona crisis.

ATP's chief executive Bo Foged. Photo: Stine Bidstrup/Ritzau Scanpix

The Danish labor-market supplementary pension fund, ATP, is likely to be tasked with managing a DKK 10 billion (EUR 1.3 billion) fund to re-capitalize large and socially important Danish companies hit by the corona crisis, Ipe.com writes.

According to a plan mapped out by Danish finance minister Nicolai Wammen (Social Democratic Party) in a parliamentary committee document, ATP will buy up newly issued preference shares from large companies in need of new capital. The means of re-capitalization is that the fund should not influence the companies' management through ownership of voting equity.

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