# BRÚ - Municipality Employee Pension Fund

BRÚ - Municipality Employee Pension Fund is a Pension Fund based in Reykjavik, Iceland.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Reykjavik, Iceland
- **Region:** Europe
- **Address:** Reykjavik, Iceland
- **Founded:** 1998
- **Assets under management:** 2.84 (Altss estimate)
- **Website:** www.lifbru.is

## Regulatory record

- **Reports private funds:** No

## About

BRÚ was established on 28 July 1998 as a pension fund for Icelandic municipal employees. It absorbed the Reykjavík Employees' Pension Fund in 2024 and the Employees Pension Fund of Akureyri in January 2025. The fund pursues a balanced mandate that includes co-investments, buyouts, secondaries, and early-stage venture alongside real-asset holdings. Confirmed positions include the mixed-use development Klasi in Iceland and the Reykjavík property now held through Heimar hf. Commodity exposure spans global markets. The firm maintains membership in the Icelandic Pension Funds Association and is a signatory to the UN Principles for Responsible Investment. No additional offices or headcount figures are disclosed. BRÚ operates as a statutory pension vehicle with governance tied directly to participating municipalities rather than a private sponsor structure.

## Sectors

- Real Estate

## People

- Gerður Guðjónsdóttir — Managing Director

## Questions

### Who runs investment decisions at BRÚ?

Gerður Guðjónsdóttir serves as Managing Director.

### What asset classes does BRÚ hold?

The fund maintains positions in Icelandic mixed-use real estate and global commodities.

### How did BRÚ grow its participant base?

It absorbed the Reykjavík Employees' Pension Fund in 2024 and the Akureyri fund in January 2025.

### Is BRÚ a member of any industry groups?

BRÚ belongs to the Icelandic Pension Funds Association and is a UN PRI signatory.

## Related profiles

- [SPK Pension Tjänstepensionsförening](https://altss.com/profile/spk-pension-tj-nstepensionsf-rening)
- [Nippon Kanzai](https://altss.com/profile/nippon-kanzai)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/br-municipality-employee-pension-fund

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology