Danish pension funds take Queensland cattle station stake

The Danish pension fund Pensionskassernes Administration (PKA) has secured a stake in $60 million worth of Queensland cattle stations.

The stake in around 480,000 hectares, from Blackall to Cunnamulla, is held through the SLM Australia Livestock Fund.

The fund raised $75 million from PKA in 2012 with SLM Partners director Tony Lovell telling the AFR that the SLM fund was still looking to expand.

The market value of the assets managed by PKA across the world was DKK 194 billion (A$38 billion).

The AFR noted SLM Partners kept a low profile as it aggregated its properties.

The Cunnamulla aggregation includes the 43,000ha Padua Park hub purchased for $10 million, sold in part by the Sunshine Coast engineer David Wimhurst. There was also the 49,000 hectare Willacora hub for $9.3 million; the 71,000 hectare Eureka Plains for $7.4 million; the 48,000 hectare Amenda at $11.8 million and the 79,000 hectare Garrawin for $4.3 million.

At Quilpie, SLM put together the 165,000 hectare Colac hub for $6.4 million.

At Blackall it secured the 25,000  hectare Listowel Downs for $11.2 million.