NETHERLANDS - APG, the newly separated asset manager of giant Dutch pension fund ABP, has said it is considering committing a cash injection into a new asset pool for start-up asset managers.
Holland Financial Centre (HFC), which was set up last year to develop the Netherlands as a financial centre and promote the country's pensions expertise, has launched a €250m fund to back new asset managers.
IMQubator, which has co-founders such as former Cordares director of pensions Jeroen Tielman and Cardano risk management's chief executive Theo Kocken, will support initiatives of experienced investment managers who want to start up their own business with seed capital to make a good start.
"We are presently in talks with a number of schemes and APG has indicated they are strongly considering sponsoring the project," said Kocken.
Roderick Munsters, chief investment officer of APG, commented in a press release distributed by HFC: "The IMQubator initiative will give an impose to innovation in the field of asset management."
The fund is an initiative of the Active Asset Management working group of HFC, chaired by Munsters.
IMQubator hopes to initially raise €250m to €500m, "money which will serve as seed money for innovative investment initiatives," added Kocken.
The founders hope to create a win-win set-up in that pension funds sponsoring the project can look forward to low-cost access to investment talent, while the project provides selected managers with seed money, coaching and support.
"Already, we've 15 applications from managers interested in joining the project," said Tielman, adding the organisers have high hopes for launching the fund early next year.
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