ATP Private Equity Partners (ATP PEP), the private equity unit of Denmark’s giant statutory pension fund ATP, is to close its New York office and stop investing in venture capital as part of an investment strategy overhaul.
The shift is mainly a result of the DKK767bn (€103bn) pension fund’s changing priorities under chief executive Christian Hyldahl, who took the helm a year ago.
Hyldahl has increased ATP’s focus on transparency, with responsible ownership and tax issues being brought to the fore in the last few months.
