Paulus Ingram, head of hedge fund investing at APG, has left the Dutch asset manager to co-found a US-based institutional manager focusing on sustainable investing.
The new company, ARC Fiduciary, will seek to achieve financial outperformance while contributing to the United Nations Sustainable Development Goals.
Ingram, who has worked at APG since 2010, operated from the company’s New York office, where he was responsible for more than €25bn in hedge fund holdings.
He pointed to a “considerable” lack of sustainable-investment opportunities for large institutional investors and said many pension funds wanted to reduce their carbon footprint significantly.
ARC Fiduciary has launched an Energy Transition Opportunity Fund, which will invest in infrastructure projects focusing on the transition from fossil fuel to renewable energy in the US.
Ingram started his career as a specialist in sustainability and private markets at APG in Amsterdam.
He has also served as chairman of APG working group Principles for Responsible-Investment Hedge Funds, as well as manager of APG’s Opportunities Fund.
Dempsey Gable, co-manager of ARC’s climate fund, has also managed the same fund at APG.
APG said it had not yet appointed Ingram’s successor and that his tasks had been divided across the organisation.
It added that it was too early to say whether it would commit assets to Ingram’s new funds.