Dutch pension funds PGGM and ABP have reported healthy returns from their private equity investments in 2005.
The pension fund said in a statement that private equity, in which it has a 4.9 percent allocation, was its best-performing asset class in 2005. PGGM posted an overall return of 16.3 percent for the full year and reported total assets under management of €71.5 billion ($86.3 billion).
Else Bos, PGGM’s managing director investments, said in a statement: “With a return of 16.3 percent, we have had a fantastic 2005, with all asset classes performing strongly. The non-traditional asset classes (especially commodities and private equity), which have a relatively important weighting in the PGGM portfolio did particularly well,” said Bos.
Last December, Amsterdam-based AlpInvest Partners, Europe’s largest private equity limited partner, announced that it had received an additional €11 billion mandate from ABP and PGGM. AlpInvest was established in 1999 as the exclusive manager of ABP and PGGM’s private equity interests.