APG (pension fund)

APG (Dutch: Algemene Pensioen Groep) is a Dutch pension investment company based in the Netherlands. It is a direct subsidiary of Stichting Pensioenfonds ABP, the largest pension fund in the Netherlands.

APG
Native name
Algemene Pensioen Groep NV
IndustryInvestment management
FoundedMarch 1, 2008 (2008-03-01)
Headquarters
Heerlen
,
Netherlands
Key people
Annette Mosman (CEO)
AUM€627 billion (November 2021)
OwnerStichting Pensioenfonds ABP
Websiteapg.nl

History

APG was established on 1 March 2008 as an independent administration organization of Stichting Pensioenfonds ABP (ABP). In the same year, it merged with Cordares, which carried out pension administration for bpfBOUW (The Foundation for the Construction Industry Pension Fund).[1] APG is known as the asset manager of ABP.[2]

AlpInvest Partners was owned by APG and PGGM until it was sold to The Carlyle Group in 2011.[2]

Overview

APG manages investments for various pension funds in the Netherlands.

It has three subsidiaries which are:

  • APG Rechtenbeheer (management advice, pension administration and pension communication)
  • APG Asset Management
  • APG Diensten (in-house service provider)

APG has offices in Amsterdam, Heerlen, Brussels, New York, and Hong Kong[3] as well as satellite sites in Beijing and Shanghai.[4]

Notable transactions
  • In 2010, APG and CPPIB each purchased a 25% shareholding in Westfield Stratford City for £871.5m each.[5]
  • In 2011, ConnectEast was acquired by Horizon Roads in 2011 with APG having a 15% shareholding[6]
  • In 2019, Capco plc sold their interest in the Earls Court Exhibition Centre to APG and Delancey for £425 million.[7]
  • In 2019, APG acquired a 41.1 per cent indirect interest in Alpha Trains and acquired an additional 20.9% interest in 2021.[8]
  • In 2019, CPPIB sold its 39% stake in European car park manager, Interparking to APG.[9]
  • In 2020, APG along with NPS and Swiss Life Asset Managers acquired 81% stake in Portugal motorway operator, Brisa.[10]

Affiliated people

See also

References
  1. Harro ten Wolde (17 April 2008). "UPDATE 1-Dutch ABP fund unit APG to merge with Cordares". Reuters.
  2. "Carlyle expands with Dutch AlpInvest buy-out". Reuters. 2011-01-26. Retrieved 2023-02-06.
  3. "About". Investor Leadership Network. Retrieved 2021-02-24.
  4. "APG Said to Set Up Offices in Shanghai, Beijing China Mingtiandi". Mingtiandi. 2019-11-25. Retrieved 2021-02-24.
  5. Goh, Andrew Macdonald, Brenda (2011-09-07). "Westfield mall heralds profit and social change". Reuters. Retrieved 2021-02-19.
  6. EastLink’s big pension fund owners mull selldown, bankers scramble Australian Financial Review 27 November 2022
  7. Kelly, Megan (2019-11-18). "Capco sells Earls Court estate for £425m". Construction News. Retrieved 2021-02-19.
  8. Gray, Jack. "Dutch pension provider APG acquires further 20.9% stake in Alpha Trains". European Pensions.
  9. Sanjana Shivdas (23 October 2019). "Canada Pension Plan sells 39% stake in Interparking". Reuters.
  10. "Swiss Life, APG & NPS to Acquire 81% Stake in Portugal's Road Operator Brisa for USD 2.6bn; P/S 4x". Analyzemarkets.com.
  11. "Parliamentarians can keep the (other) day job". POLITICO. 1 November 2016.
  12. Preesman, Leen. "Dutch giant APG appoints Bart Le Blanc to supervisory board". IPE.
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