PensionDanmark did not receive its first contribution until 1993, for private sector employees of B&A Pension, HTS Pension and B&T Pension. The Fund is now one of the 50 largest pension funds in Europe, expecting to reach USD 55 billion AuM by 2050. It is a tenth of the size of ATP group, with all 300 employees sitting in Copenhagen, but it has become a significant advocate for ESG investments, including investment forays such as the Danish Climate Fund and the Africa Infrastructure Fund.