PFA recently overtook ATP Groep as the largest pension fund in Denmark. PFA Pension is owned by PFA Holding A/S, which dates back to 1917. The other entities in the group include PFA Bank, PFA Invest (for liquid investments, which is effectively managed by PFA AM), PFA Asset Management (for Alternatives) and PFA Ejendomme (for Real Estate). The fund is known for managing most of its investments in listed assets and real estate in-house, thanks to a 135-person investment team.