greenland minerals intalks to fund $800m plan, page-12

In the USA, pension funds account for about 70% of venture capital and private equity (PE) capital under management.

Pension funds operate large investment staffs and they make direct senior and subordinated debt investments into leveraged buyouts and other PE activities. They like doing this direct because it eliminates fees and carried interest profit sharing. They usually have an equity kicker, but it is small and generally in the 5% range.

Many European pension funds use the same model, so I would expect Denmark to be quite capable of being part of a syndicate to provide the $800 million. However, pension funds are always worried about paying too much, so they like to participate with other, for-profit sources of capital, such as commercial banks and sovereign funds.

Frankly, at this point, I cannot imagine Denmark not making the mining industry in Greenland viable. The royalties alone will cut the need for Denmark to subsidize Greenland and this is cash in the bank to them.