- Industriens Pension, the Danish labour market pension scheme, has made a DKK 2.2bn investment in a credit fund focused on medium-sized European companies with growth potential.

The investment has been made through a new Goldman Sachs Asset Management credit fund, West Street Direct Lending European Evergreen Partners. Most of the funds will be lent to European companies, but it will also lend to Australian companies, just to a lesser extent. In the first round of funding, the new fund received DKK 12.7bn through commitments from several institutional investors. This is the biggest individual investment Industriens Pension has made in the unlisted credit asset class, and the DKK 2.2bn investment is expected to be invested over the next 18 months. Industriens Pension head of bond and credit investments, Anders Ellegaard, said this is an “attractive” investment for the fund, and it “first and foremost expects a solid return with a relatively low risk”.

- Dutch pension fund ABP, together with Orange Poland, has acquired a stake in Polish fibre optic company, Nexera.

The acquisition follows the establishment of ABP and Orange Poland’s joint venture Światłowód Inwestycje, a platform that installs fibre optic connections for households and businesses. Both networks are expected to grow to a total of around 3.7 million connections in Poland by 2028. Nexera manages an attractive network, partly because it is rolled out in rural areas. The roll-out is subsidised by the EU and the Polish government. ABP explained its decision to invest in this company was due to it having a good balance between return, sustainability and risk and offers an opportunity to expand Światłowód Inwestycje's existing fibre optic network at attractive returns.

- Several Danish pension funds, including P+, have invested in Morgan Stanley’s new international real estate fund, North Haven Real Estate Fund XI Global.

The fund is expected to receive a total of USD 4bn (just under DKK 26bn) in investments, with P+ contributing around DKK 1bn. The fund will invest broadly geographically and across property types. The fund will be classified as an Article 8 fund under the EU Disclosure Regulation, reflecting Morgan Stanley's increased focus on sustainability. P+ acknowledged that in recent years, the property market has been characterised by higher financing costs and fewer transactions, which, despite creating challenges, have opened up attractive opportunities for investors with new capital.

- Danish pension provider PFA has had its climate targets officially validated by the Science Based Targets initiative (SBTi).

The approval by SBTi, the global industry standard for science-based climate targets, means that PFA’s goals are aligned with the Paris Agreement's goal of limiting global warming to 1.5 degrees. PFA head of responsible investments and investment products, Rasmus Bessing, said the provider’s goal is for its total investments to be CO2 neutral by 2050 at the latest. To ensure it achieves this, PFA has set sub-goals for 2030. These include that 51 per cent of its investment portfolio will be invested in companies with SBTi-validated targets and that CO2 emissions per square metre in its property portfolio will be reduced by 53 per cent compared to 2023. PFA has invested more than DKK 100bn in green solutions, including renewable energy, green bonds and energy-efficient homes.

- Dutch pension fund SNS Reaal has reported positive results in 2025 and said it is on track to transfer to the new pension system.

In 2025, its average funding ratio increased from 119.5 per cent to 124.3 per cent, which SNS Reaal said was a “significant increase” compared to other years. Commenting on the progress towards the transition to the new system, SNS Reaal chairman, Margreet Oostenbrink, said the fund is in the final phase of submitting all documents to the Dutch Central Bank (DNB).

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