PGB mandates Aberdeen Standard with €500m

"We will invest €100m per year for a five-year period, in four small mid-market buyout funds per year," the pension fund's senior portfolio manager, Dick Tol, told Unquote. "We target €25m commitments."

The partnership will be structured as a fund-of-one, where PGB is the only LP. ASI will participate in the fund-of-one via a GP share.

The cooperation between the €26.5bn Dutch pension fund and the £557.1bn asset manager focuses on creating value through investing with managers that emphasise operating improvements and job creation, as well as ESG issues and other responsible investment strategies.

The investment comes as the pension fund is targeting a more hands-on approach, where the majority of the return is generated by growth as opposed to financial leverage. Investments in the portfolio will be tracked and assessed on whether they contribute to reaching the UN Sustainable Development Goals, while responsible investment criteria and climate policies will be part of every investment decision.

The pension fund is also in the final selection phase for a mandate in North America, to focus on small to mid-market buyouts.

Overall, PGB has a target allocation of 2.5% to private equity.

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• Topics
• Fund-of-funds
• LPs
• Benelux
• Aberdeen Standard Investments
• Netherlands
• ESG