PFA Pension

PFA Pension

PFA Pension was founded in 1917 and headquartered in Copenhagen, where Group CEO Ole Krogh Petersen and Group CIO Kasper Ahrndt Lorenzen run the country's largest commercial pension provider. The firm merged with BankPension in 2016, consolidating its position as Denmark's dominant retirement-savings vehicle. PFA targets long-term, inflation-linked returns by blending direct real estate, infrastructure, private credit, and listed equities. The real estate book spans office, mixed-use, and residential assets across Denmark, with confirmed holdings including Copenhagen's Axel Towers, the Købmagergade Post Office building, Forum Frederiksberg, the TRÆ Project in Aarhus, C.F. Møllers Have, and Unity Aarhus. The firm pursues a sustainability tilt, evident in its direct US forestry investments and membership in the Net-Zero Asset Owner Alliance, Climate Action 100+, and the Science Based Targets initiative. Team scale is not publicly disclosed. In May 2026, PFA launched six new investment funds, signaling a push to package strategies for retail participants. The firm's governance ties include a long-standing strategic relationship with Nykredit, and its philanthropic arm is the PFA Foundation. PFA's structural differentiator is its role as a commercial, customer-owned pensionskasse that competes for mandatory labor-market pension contributions. This creates a steady inflow of liabilities, allowing Lorenzen to deploy capital into long-duration, illiquid real assets without the redemption risk a standard asset manager would face.