Danske Private Equity A/S is responsible for all portfolio
management and risk management activities related to the
Danske PEP family of funds. Subscriptions to prior Danske PEP funds have been from significant institutional
investors, mainly pension funds and life insurance companies in Northern Europe as well as corporate treasuries
The relation to Danske Bank
Danske Private Equity operates fully independently with all investment related decisions being a matter solely of the
investment committee constituted by selected team members of Danske Private Equity.
Being a wholly-owned subsidiary of Danske Bank, we leverage on
relevant support and expertise as needed with certain core functions delegated to other affiliates or divisions
within the Danske Bank Group as needed. Such delegations are monitored by Danske Private Equity on a regular
basis. For these and all other interactions with the Danske Bank Group, selection of an affiliate as a service
provider requires that affiliate to offer both wholly competitive commercial terms and synergies that may
further benefit the Danske PEP family of funds.
Risk Management is delegated to Danske Invest Management A/S (“DIMA”). DIMA is the management company for the Danske
Invest mutual funds, comprising approximately EUR 82bn of assets distributed on more than 278 sub-funds (classes) as
of end of 2019. DIMA is authorised by Finanstilsynet, the Danish Financial Supervisory Authority both as a mutual
funds management company and as a manager of alternative investment funds. The breadth and depth of DIMA’s operation
allows Danske Private Equity and the Danske PEP family of funds to benefit from risk management at a higher level of
sophistication and dedicated resources than would have been feasible on a standalone basis.
For further information on DIMA please refer https://www.danskeinvest.dk
Compliance is delegated to Danske Wealth Management Compliance (“DWMC”). DWMC oversees compliance, anti-money
laundering and prevention of terror financing for all entities of Danske Wealth Management. This secures not only
effective controls, but also oversight of potential conflicts of interest.
For further information on Danske Bank compliance please refer
Regulation of Danske Private Equity A/S
The EU Alternative Investment Fund Managers Directive (the “AIFMD”) as implemented in Danish law regulates the
activities of certain private fund managers undertaking fund management activities or marketing fund interests to
investors within the European Economic Area (“EEA”). The AIFMD is implemented into Danish law mainly through Danish
Consolidated Act no. 1047 of 14 October 2019 on Managers of Alternative Investment Funds, as subsequently amended.
For the purposes of the AIFMD, Danske Private Equity is an Alternative Investment Fund Manager (an “AIFM”)
authorised by Finanstilsynet, the Danish Financial Supervisory Authority under FT no. 23026 and each vehicle
constituting the Danske PEP family of funds is currently expected to be an Alternative Investment Fund (an “AIF”)
established in Denmark. As an EEA AIFM of an EEA AIF, Danske Private Equity is subject to numerous compliance
obligations and requirements under legislation implementing the AIFMD in Denmark and the EEA member jurisdictions
into which interests in the Danske PEP family of funds are marketed. Such obligations and requirements include, but
are not limited to, the following: (i) Danske Private Equity is subject to certain reporting, disclosure, capital
requirements, depositary and other compliance obligations under legislation implementing the AIFMD, which may result
in the Danske PEP funds incurring additional costs and expenses; (ii) Danske PEP funds and/or Danske Private Equity
may become subject to additional regulatory or compliance obligations arising under national law in certain EEA
jurisdictions, which may result in Danske PEP funds incurring additional costs and expenses or otherwise affect the
management and operation of the Danske PEP family of funds; (iii) Danske Private Equity will be required to make
detailed information relating to the Danske PEP funds and its investments available to regulators and third parties;
and (iv) legislation implementing the AIFMD may also restrict certain activities of the Danske PEP funds in relation
to EEA portfolio companies (where acquired under co-investment arrangements) including, in some circumstances, the
Danske PEP fund’s ability to recapitalise, refinance or potentially restructure an EEA portfolio company within the
first two years of ownership.
The PRIIPs KID documents on Packaged Retail and Insurance-based Investment Products (PRIIPs) are designed to give
retail investors standardized information about a PRIIP. This essential information includes the main features of
the product, the risks and reward profile and costs associated to the PRIIP. Below are the relevant PRIIPs KID
documents on Packaged Retail and Insurance-based Investment Products from Danske Private Equity A/S (in Danish).
Danske PEP 2018 (EUR)
Danske PEP 2018 (USD)
Danske PEP 2018 Co-Investment
Summary of Investor Rights
Alternative Investment Funds (AIFs) as defined in Directive 2011/61/EU of the European Parliament and of the Council
This note is intended as a summary of your key rights as an investor in the AIF(s) for the purposes of the European Union Cross Border Distribution Regulation (Regulation (EU) 2019/1156). It is not intended to be and should not be considered as an exhaustive list of all rights which investors may have in respect of the AIF(s).
Capitalised terms used in this summary and not otherwise defined have the meanings given to them in the relevant offering documents. Please refer to the relevant AIF offering documents for further details in respect of the functioning of the particular AIF.
- Right to Participate in the Investments of the AIF – The Interests entitle the holders to participate proportionately in the profits and losses of the relevant AIF to which the Interests relate, subject to any differences between the terms / characteristics applicable to different share classes. Full details of each AIF’s investment objective and policy and share class features are set out in the relevant Information Memorandum.
- Right to Receive Income – Each investor has the right to a proportionate share of the income (if any) of the AIF in which the investor has invested. Depending on the nature of the Interests held by the investor, such income may either be accumulated into the Net Asset Value of the investor’s Interests or distributed to the investor as a dividend payment, in accordance with the terms of the Information Memorandum.
- Right to Receive Information – Each investor has the right to receive certain information about the AIF and the AIF(s) in which the investor has invested. This information will include the AIF’s investor Reports and further information may be available on request. Further details in this respect are contained in the offering documents.
- Right to Attend and Vote at investor Meetings – Each investor has the right to receive notice of, attend in person or by proxy and vote at general meetings (if any) of the relevant AIF and any meetings of the investors of the particular AIF in which the investor has invested.
- Right to Complain – Each investor which is not satisfied with its experience as an investor in the relevant AIF should contact the Management Company.
This summary of key rights is not and does not purport to be exhaustive and investors should review the offering documents in their entirety and consult with their professional advisers to understand their rights more fully.
Policy principles on sustainability risk integration
Danske Private Equity has adopted the Danske Bank Policy on Responsible Investments. The Responsible Investment
Policy safeguards the principle on the integration of sustainability risks in investment analyses and investment
For further information on how Danske Private Equity considers and integrate sustainability risks please refer to the
Responsible Investment Policy.
Responsible Investment Policy
Sustainability-Related Disclosures Regarding Specific Funds
For further information on how Danske Private Equity considers and integrates sustainability risk into particular funds under management, please refer to the below statements
Danske PEP 2022 (EUR)
Danske PEP 2022 (USD)
Danske PEP 2022 Co-Investment
Remuneration of employees and sustainability risks
The Remuneration Policy of Danske Private Equity provides that remuneration of portfolio managers in Danske Private
Equity shall be structured so as not to encourage the taking of excessive risks with respect to sustainability
factors impacting the value of the investments of the Danske PEP funds.
Principal Adverse Impact Statement
Danske Private Equity is the alternative investment fund manager of the managed funds and as such has the
responsibility for the investment management thereof. In accordance with the limited partnership agreements of the
managed funds, any investment or divestment decision is made by the general partner of each managed fund based on
advice provided by Danske Private Equity. While Danske Private Equity has a long-standing history of attaching great
importance in advising on the selection of investments seeking to give proper regard to the avoidance of adverse
impacts, such selection criteria do not constitute considering principal adverse impacts of investment decisions on
sustainability factors in accordance with EU Regulation 2019/2088 (SFDR). For the consideration of such impacts
Danske Private Equity is reliant on the external managers of the investments disclosing how they take such impact
into account, noting that a considerable proportion of such managers and investments are located outside the
European Economic Area and, accordingly, provide different standards of disclosures on sustainability factors.
Danske Private Equity will on an on-going basis review disclosures by the external managers to ensure that Danske
Private Equity will consider principal adverse impacts once it has sufficient inputs.