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PGGM names new head of alternative investments

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NETHERLANDS- PGGM, the e47bn pension fund for the health care and social work sector, has promoted its head of real estate Jan van der Vlist to oversee its alternative investments.

The Dutch fund recently brought real estate, private equity investments, mortgages and absolute return funds under one umbrella and renamed them structured investments.

PGGM says: “the asset categories mentioned have a number of important similarities relating to specific features of the markets, pricing, how transactions are realised and also to the low level of liquidity compared with shares.”

Van der Vlist’s promotion makes him responsibe for around 25%, or e11.75bn, of the fund’s assets. Real estate accounts for 15% of the overall fund, private equity 7.5% and morgages 2.5%.

Elsewhere the investment management structure remains unchanged. Gerrit Russelman will continue to oversee equities and Marjolein Sol will continue to run fixed income and the treasury department.

PGGM has said for some time that it is considering investing in hedge funds although it has yet to do so. A spokeswoman says they are still investigating the possibility.

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  • QN-2546

    Asset class: Real Estate Equity Fund (non listed).
    Asset region: Europe.
    Size: Total CHF 600m, approx. CHF 100-300m per fund investment.
    Closing date: 2019-06-28.

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