It has been owned by the Foundation for Danish-Norwegian Cooperation since the 1940s and is now operated as a conference centre following several renovations and expansions of the complex by architect such as Kaare Klint.

In 1755, Dietrich Schäffer purchased a property with stables at Jægersborg in auction and began the consturciton of a large country house which was completed in 1756.

Schäffer hoped to be able to sell it to the king as a replacement for the royal hunting lodge Ibstrup which had fallen into despair.

In 1920, Ernst Michaelsen, CEO of Vacuum Oil Company, purchased the property.

In 1948, it was acquired by the Foundation for Danish-Norwegian Cooperation with the aim of creating a Norwegian centre for education and culture in Denmark.