Given long-term investment horizons and often lower risk, infrastructure and real estate investments can be used to complement the institutions’ bond portfolios. other alternative assets are more commonly used to complement institutions’ equity portfolios. For example, at Nordea Life & Pension in Denmark, the customers demand has recently shifted towards life cycle products, which means products where risk diminishes as the pension policyholder ages. In order to achieve the right mix, explains Soren Tang Kristensen, Head of Alternative Investments & real estate.