Industriens Pensionsforsikring, the Dkr22bn (€3bn) pension scheme, has invested in three private equity funds as part of a programme to diversify. It plans to allocate 2.5% of funds to the asset class.

Jan Østergaard, head of investments at Industriens Pensionsforsikring, said: "We have recently committed €27.5m to Nordic Mezzanine Fund II and Dkr120m to two smaller Danish funds, Incuba Venture I and Industriudvikling II."