EUROPE - Dutch financial group Robeco has ventured into multi-management with the launch of Switzerland-based Corestone Investment Managers, set up by former Altis man Martin Mlynár.

Mlynár, co-founder and previously managing director at Altis Investment Management, told IPE today Corestone will initially focus on pension funds and other institutional investors in the Netherlands, but is also in talks with funds in Sweden, Denmark, Switzerland and Germany.

Paul van Gent, previously responsible for all manager selection at the Dutch €21bn industry-wide pension fund for the metal industry PME - which went into fiduciary management with MN Services last July - is also Corestone's new chief investment officer.

Sadruddin Rejeb and Cian Maynard have both also left Altis to become part of Corestone's management team. Rejeb is head of financial engineering, while Maynard is head of operations and client servicing.

Corestone defines itself as being the "centre of excellence for multi-management within the Robeco Group, operating on a fully-independent basis".

It is understood Robeco has a shareholding not dissimilar to that held in Zurich's Sustainable Asset Management (SAM Group) - part of the Robeco stable since December 2006 - which is between 60% and 70% of the shares.

"I believe that there has been an effort made from Robeco to finalise the current fiduciary offering," said Mlynár, adding Corestone is the last building block in Robeco's current approach to fiduciary management.

That said, Robeco believes there are parts of the fiduciary management proposition that should be offered to the clients from an "outside view", said Mlynár.

A spokesman for MN Services also told IPE today following MN Service's restructuring of its asset management offering, Niels Oostenbrug has been promoted  to lead of the firm's private equity, infrastructure, commodities and special projects business. As part of this duty, he will also take on Van Gent's former role.

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