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 in
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.