PGGM loses investment director to Levine Leichtman

The LA-based firm’s new recruit has been hired to establish an office in the Netherlands

Dutch pension fund administrator PGGM has lost one of its investment directors, who has joined Los Angeles-based private equity firm Levine Leichtman Capital Partners as a managing director.

Wouter Snoeijers, who joined the firm this month, will be responsible for establishing and managing Levine Leichtman’s Netherlands office, according to a statement.

He will lead the firm’s origination and investing efforts in the Netherlands and throughout continental Europe, the firm said, adding that Snoeijers will look after Levine Leichtman Capital Partners Europe, L.P., a newly-established investment fund dedicated to continental Europe.

“His relationships and experience throughout Europe will be very valuable as we continue to expand our platform and I have no doubt that he’ll be a critical part of our continued success,” Lauren Leichtman, co-founder and CEO of Levine Leichtman, said in the statement.

At PGGM, Snoeijers helped manage a €2 billion per-annum private equity investment program and served on its private equity investment committee. He focused on both primary and co-investments, in the global buy-out segment as well as in Europe and MENA and Sub-Saharan Africa, according to Snoeijers’ LinkedIn page. He joined PGGM in July 2013.

Prior to that, Snoeijers spent seven years at UK-headquartered buyout firm Permira; the first two years of which he worked in the telecom, media and technology group before joining the firm’s financial services team. He was then promoted to head of the Netherlands and Belgium at Permira where he worked on investments such as All3Media and Just Retirement. Before Permira, Snoeijers spent three years in the Benelux M&A team at JPMorgan.

Despite the loss of Snoeijers PGGM has been building out its private equity team since the sale of its interest in AlpInvest Partners in 2011. Last year it backed buyout firm Nordian Capital Partners, a spin out from Dutch bank Rabobank, by investing 20 percent in the firm’s €300 million Nordian Fund II. It also bought a 20 percent in Nordian Fund I, which consist of 15 portfolio companies in the Netherlands. In 2014, PGGM invested more than €200 million in European funds.

In an emailed response, PGGM’s head of private equity Eric-Jan Vink said that PGGM “will continue to expand its team which will include senior hires”.