Team size: Seven

Major legal advisers: Bech-Bruun Law Firm (Jens Hjortskov and Steen Puch-Holm Larsen) and Plesner Law Firm (Lars Bunch).

Can you give an idea of the most significant cases or transactions that your legal team has recently been involved in?

Transformation: Blackstone acquired Kereby – a property management company that manages properties and property companies in the greater Copenhagen area – in 2019. In connection to the acquisition an in-house Legal and Compliance department was established, which has since played a central role in the structuring and transformation of Kereby, for example by implementing standards, processes and policies that shall ensure that the company has and maintains a high compliance level, placing Kereby best in class among Danish property management companies. Furthermore, the department has been organised in a way that makes it crucial in the strategic and organisational decision making of Kereby. In addition, we are continuously working with updating as well as implementing relevant technologies, processes and standard, that shall ensure that we always maintain a high professional standard that creates value for the company and the assets under management.

ESG: Over the course of the last few years, ESG has become a substantial part of Kereby as well as the Legal and Compliance team. As a result, the team has been involved in several different ESG-related projects across the company, including the preparation of Kerebys official ESG-report, handing in of the GRESB-report as well numerous initiatives stemming from our ambitious code of conduct policies.

Do you have an example of a time when you have come up with an innovation that improved how your legal team functions, while avoiding any large expense?

In Legal and Compliance, we are always keeping updated on new innovative solutions that can help us streamline our in-house legal solutions as well as reducing our external legal counselling expenses. We have entered into a corporation agreement with a company named Data & More that offers a screening tool for the employees’ Outlook and drives with the intent of reducing the amount of non-complaint personal data according to GDPR. Furthermore, in relation to the GDPR area, we have implemented the system “Privacy” which helps us to streamline our work with GDPR compliance in relation to privacy and includes functions such as risk assessments of processing activities, documentation of the company’s sharing of data with data processors, audit of data processor, facilitating an overview of transfers to unsafe third countries and planning annual activities. All are functions or tasks that we once carried out manually via Excel, PowerPoint or Word in collaboration with an external lawyer.

We have created an internal data tool in relation to our post-closing (real estate transactions) obligations and rights that makes it possible to perform contract management of APA’s (Asset Purchase Agreements) worth more than kr8bn. This ensures that Kereby always fulfills its obligations in relation to the property transactions that Kereby has been involved in.

Looking forward, what technological advancements do you feel will impact the role of in-house legal teams in the future the most?

ChatGPT and other artificial intelligence products could have a significant impact on how certain procedures are performed, especially at junior associate and associate level.

The unusual business environment created by the pandemic has been swiftly followed by the Ukraine crisis, and attendant supply chain costs rising and rising inflation. Are you now putting more emphasis on preparing for the unforeseen and, if so, what does this entail?

In Legal and Compliance, we are performing risk management on an ongoing basis, which is why we have prepared contingency plans in case of larger accidents or catastrophes that affects Kereby or any of its assets. Furthermore, outside related events, such as the invasion of Ukraine, has resulted in an increased focus on international sanctions, which is why a screening hereof is now included in our background check of new suppliers and contractors.