The Dutch pension investor and fiduciary manager Achmea Investment Management has launched its first dedicated private equity impact fund, with a target size of €250m.
The Achmea IM PE Partnership Fund – Healthy People & Planet 2025 – has already secured capital commitments totalling €225m from “several pension funds”, according to Achmea IM, which declined to name the funds in question.
The fund is still open to other interested institutional investors, with the first investments expected to be made in the fourth quarter of 2025.
The fund will invest in private companies “that work towards the goal of healthy people in a healthy society,” said Achmea IM in a press release. US asset manager Neuberger Berman will be responsible for the management of the fund and the selection of the companies.
The fund will focus on the themes climate, biodiversity, healthy nutrition and good health. Only companies that make an intentional and measurable positive contribution to these themes and offer attractive risk/return characteristics will be eligible for investment by the fund.
No drug development
Achmea IM CEO Maureen Schlejen already hinted the launch of the fund was in the works in an interview with IPE’s sister publication Pensioen Pro last year. In the interview, Schlejen said Achmea was “working with a pension fund to develop a private equity investment that will have an impact on climate and health and focus on the theme ‘healthy people’”. She added investments would be made in food, water, and hygiene, but not in drug development with the reason for this being that consumers often have to pay very high prices for medicines.
The fund launch comes only months after multi-sector scheme PNO Media awarded a €150m mandate to Achmea IM to invest in impact funds centred on the themes climate change and biodiversity.
Last year, the pension scheme of supermarket chain Ahold Delhaize also asked Achmea IM, its fiduciary manager, to find a third, specialised manager to invest in impact investments in the health and nutrition sector.
