The agreement means that ABP and ATP are acting as investors, contributing €60 million each initially, while the third investor, Patrizia Immobilien, will put up €8 million and will be responsible for acquiring the properties and for asset management. The two pension funds constitute big pools of assets in their local markets – ABP is a €210 billion fund for Dutch civil servants and ATP is a €49.8 billion Danish labour market pension fund. Before this tie-up Patrizia, a listed mid-cap German company, was known as a specialist for privatizations of residential property.