After nearly four decades at PKA, including 25 years as Chief Investment Officer, Michael Nellemann Pedersen is stepping down from the helm of one of Denmark’s largest institutional investors, the Healthcare Professionals’ Pension Fund in Denmark. He will be succeeded by Mads Skaaning, who joined PKA in 2017 and has served as Deputy CIO since 2018.

“For 25 years, Michael has been a key driving force in delivering strong pensions for our members. Thanks to his efforts, PKA today stands as one of Denmark’s largest institutional investors, not only achieving among the highest returns in the industry but also building a strong and robust investment structure with international recognition,” says Jon Johnsen, the CEO of PKA. “This provides the foundation for continued high returns and thus strong pensions,” he adds. “We extend our sincere thanks to Michael, who will now focus on his well-deserved retirement and board work.”

“Thanks to his efforts, PKA today stands as one of Denmark’s largest institutional investors, not only achieving among the highest returns in the industry but also building a strong and robust investment structure with international recognition.”

Jon Johnsen, the CEO of PKA.

PKA is not only one of Denmark’s largest institutional investors but also a significant hedge fund allocator, with a 5.2 percent allocation to hedge funds as of the end of 2024. Pedersen expresses confidence in stepping down at a time when the organization is well-positioned for the future. “PKA stands on a solid foundation, with a strong portfolio, strategy, and investment team that will benefit members both now and in the future,” he says. “I retire with pride in what we have built together and with great confidence that PKA will continue to develop. PKA and its members are very close to my heart.”

“PKA stands on a solid foundation, with a strong portfolio, strategy, and investment team that will benefit members both now and in the future.”

Michael Nellemann Pedersen

Skaaning will assume the role of Chief Investment Officer on April 28, 2026. According to CEO Jon Johnsen, he represents a natural successor. “Mads is the right profile to lead our investments going forward and contribute to PKA’s continued development. He has been a central contributor to the progress of our investment division over the past decade and has played an important role in the results we have achieved.”

“I look forward to continuing the strong, long-term investment strategy that creates value for all our members.”

Mads Skaaning

Looking ahead, Skaaning emphasizes continuity in the investment approach. “I have had the pleasure of working closely with Michael and the rest of the investment team for many years, and I look forward to continuing the strong, long-term investment strategy that creates value for all our members.”