Copenhagen, Capital Region of Denmark, Denmark
Turning Investment Returns into Meaningful Impact As Head of Listed Investments at VELUX Fonden and Villum Fonden, I transform market opportunities into funding for impactful and diverse initiatives, such as the Ocean Institute's work on clean oceans, CONCITO's green transition research, the prestigious Villum Kann Rasmussen Award in Science and Technology, renovation of the Natural History Museum, and numerous social and cultural causes. My work bridges investment expertise with purpose-driven philanthropy. Two decades in investment markets have reinforced my conviction that sustainability and financial returns need not be at odds. When our investment approach aligns with the foundations' mission, we seek to add value well beyond our financial returns. This belief shapes how we approach everything from Asset Allocation to ESG integration. My approach has evolved through constant exploration and learning—moving beyond traditional Tactical Asset Allocation to embrace longer-term Strategic Asset Allocation in Portfolio Construction. I prioritise building strong, long-term relationships with visionary external investment managers while continuously refining our internal methodologies. In recent years, I've been moving our team toward data-driven and AI-based applications that improve efficiency, synthesise complex information, and enhance risk management. By fostering a culture of innovation and collaborative problem-solving, I strive to empower every team member to achieve excellence. CFA & CAIA Charterholder. Certified ESG investor. Published author on Net Zero Investing. Most importantly? Someone who is passionate about proving that capital markets can be used to address our world's most pressing challenges. Author of ThoughtfulSteward.org
I manage investments for Villum Fonden and VELUX Fonden, which together amount to roughly 20 billion DKK. These investments are divided into a long-term portfolio for permanent capital and a shorter liquid portfolio for reserved donation payments. My responsibilities include: • Asset Allocation • Portfolio Construction • Manager Selection • ESG Integration • Engagement • Relationship Management and Contract Negotiation • Development of Investment Organization and Processes I cover all public asset classes, spanning from Investment Grade to High Yield Credit and Equities in Developed, Emerging and Frontier Markets. Investment Approach & Expertise: • Validate and analyze investment opportunities across listed companies or debt • Execute both passive minority positions and active ownership strategies • Conduct institutional-grade due diligence on investment managers and direct investments • Implement quantitative and fundamental analysis frameworks Portfolio Management Highlights: • Manage multi-billion DKK portfolios across different investment horizons • Direct comprehensive ESG integration and sustainable investment strategies • Lead and participate in validation processes for both public and private market opportunities (from large listed companies to private SME equity or debt) • Oversee risk management and portfolio optimization across multiple asset classes
External Lecturer at Copenhagen Business School's Department of Finance, teaching and advising graduate students on investment topics. This role allows me to combine 20 years of practical investment experience with academic rigor, bridging the gap between financial theory and real-world application in asset management, ESG integration, and portfolio construction. Areas of focus: - Thesis supervision and examination (Master's level) - Investment strategy and asset allocation - ESG integration in institutional portfolios - Corporate finance and valuation The position complements my Head of Listed Investments role at Villum Fonden and VELUX Fonden, where I lead listed investments across equities, fixed income, and credit markets.
Helped shape the network’s agenda and foster high-quality knowledge-sharing over five years. Delivered three notable presentations: • Modern Monetary Theory (MMT) Explained and Critiqued – with MMT co-founder Warren Mosler • Getting to Net Zero – Implications for Portfolio Construction – based on my contributed chapter in RiskBooks • AI – Practical Applications – drawn from personal experience and applied learnings
• Managed Mortgage & Government Bond portfolios (DKK 50bn+) and a Credit portfolio (~DKK 4bn) spanning investment-grade and high-yield, CLOs, Emerging Market Debt, structured credit, and junior covered bonds. • Co-managed a Sustainable Fixed Income portfolio, embedding ESG factors into credit analysis, issuer selection, and portfolio construction. • Directed currency management (hedging strategies, tactical exposure adjustments) and risk management across fixed income, credit, and currency exposures using swaps, futures, and other derivatives. • Applied leverage via repo and derivatives to enhance portfolio returns. • Contributed to treasury operations and strategic asset allocation decisions, balancing credit, interest rate, and FX risks. • Played a key role in delivering strong performance that helped PensionDanmark earn European Pension Fund of the Year (IPE 2017, 2018, 2020).
Progression: Portfolio Manager → Asset & Liability Manager → Senior Treasury Manager • Managed the bank’s Liquidity Portfolio (reserves) of DKK 15–20bn in High-Quality Liquid Assets (mortgages, government bonds), executing significant leveraged bond positions and derivative strategies to optimise exposure and manage risk. • Led Asset & Liability Management (ALM) in Group Treasury: monitored and hedged interest rate risks across the balance sheet (bond portfolio, loans, funding), reporting directly to the Asset Liability Committee (ALCO). • Oversaw daily liquidity operations via repo markets, FX swaps, interbank deposits, and CP issuance to ensure funding stability. • Managed multi-asset mandates for institutional and HNWI clients (~DKK 2bn) spanning equities, fixed income, currencies, and external fund managers. • Selected and monitored external managers, executed tactical asset allocation, and implemented governance processes for portfolio oversight.