Private Debt Investment Criteria

In order to focus and prioritize our investment efforts we have defined some general investment criteria. While we will focus on investment opportunities within these defined criteria, we are opportunistic in regards to sectors, investment structures and partnership models.

Project Finance and Infrastructure loans - Investment Criteria

  • Long investment horizon (7-25 years)
  • Desired ticket size: EUR 25-60 mill. 
  • Geographical focus: Northern Europe and North America
  • Preference for floating rate
  • Monopolistic business profile
  • PensionDanmark does not have any rating requirements, but in general targets credits that have a BBB equivalent credit quality or better

Corporate Loans - Investment Criteria

  • Medium investment horizon (3-10 years)
  • Desired ticket size: EUR 15-60 mill. 
  • Geographical focus: Primarily Scandinavia
  • Stable business models with defensible market position and demonstrated competitive advantages
  • Senior, unitranche and mezzanine financings
  • Preferable sponsored by top tier PE sponsor with relevant sector expertise

Credit Funds - Investment Criteria 

  • Funds that offer illiqudity and structuring premiums
  • Often regulatory driven investment scope 
  • Well established and stable management teams 
  • Proven and strong track record
  • Provide resources and skills that PensionDanmark does not possess in-house
  • Primarily US and European focus