Dutch pension picks Goldman, HarbourVest

Horeca & Catering of the Netherlands has followed up its 2004 commitment to AlpInvest Partners with a €100 million mandate to Goldman Sachs’ private equity arm and HarbourVest Partners.

Netherlands-based pension fund Pensioenfonds Horeca & Catering (PH&C) has awarded two €50 million ($59 million) commitments to Goldman Sachs Private Equity Group, the private equity arm of the global investment bank, and US-based private equity fund of funds and secondaries specialist HarbourVest Partners.
According to a press release, the two firms “impressed the pension fund during the selection process”. Goldman Sachs was chosen on the back of what the pension described as “rigorous research and clear investment philosophy”, whereas HarbourVest made the cut thanks to an “excellent track record”.
PH&C said that the decision by the board was part of a strategy to further diversify its investment portfolio. In January 2004, the pension fund made a €100 million commitment to Amsterdam-based AlpInvest Partners.

According to Petra Blonk, a senior investment professional at PH&C, the pension is currently in the process of deciding whether to allocate yet another $50 million to the private equity asset class.