Robeco launches "responsible" fund-of-funds

22 January 2009

Tweet
Facebook
LinkedIn
Google plus
Send to

Fund

Fund manager Robeco, a unit of Rabobank, has launched Robeco Responsible Private Equity II (RRPE II), its second "responsible" private equity fund-of-funds, with a EUR250m target. The fund was launched in November 2008 and is based in the Netherlands. It has a 12-year with a 3x one-year extension if necessary. The minimum subscription has been set at EUR5m and the fund has no set hard-cap. Management fees, carry and hurdle have been described as "industry standard."

Its predecessor, the Robeco Sustainable Private Equity fund, was launched late 2003 with fundraising beginning in 2004. This fund is performing in line with expectations.

Investors

As a cornerstone for the fund, Robeco will commit 15% (or up to EUR35m) of the target figure. Robeco is seeking to attract a wide array of institutional investors such as insurance companies, banks and pension funds. The latter have been particularly interested. The fundraising began in Europe but the fund will be marketed in other regions as the fundraising progresses.

Investments

RRPE II will on average invest between EUR10-15m in 20-30 private equity funds that are willing to consider acceptance of, or express their willingness to subscribe to, the Robeco Principles for Responsible Private Equity. The principles will provide a proper direction and alignment with more internationally-accepted sets of responsible investment guidelines, in particular the United Nations Principles for Responsible Investment ('UN PRI'). The fund will also be diversified by geography (North America, Europe and emerging markets), investment stage, industry sector, companies and vintage years.

People

The fund is managed by a 13-strong experienced investment team at Robeco Alternative Investments; more than 50% of the team will be dedicated to the management of the RRPE II. Robeco asset management has EUR128 billion of assets under management as of July 2008. The fund's manager will be supported by experienced professionals from Rabobank's Corporate Social Responsibility division in the field of ESG and responsibility.

Name: Robeco Reponsible Private Equity II

Target: EUR250m

Launched on: November 2008

Focus: Fund-of funds

Contact: Ad van den Ouweland

Address: Robeco Alternative Investments Private Equity, Coolsingel 120, NL-3011 AG Rotterdam

Tel: +31 10 224 7231

Fax: +31 10 224 2181.