NETHERLANDS - A €250m asset pool established to encourage start up asset managers to set up in the Netherlands has the support of pension fund investor APG.
The fund will support initiatives of experienced investment managers who want to start up their own business with seed capital, on the condition that these new investment funds operate from the Netherlands.
APG, which manages the assets of pension fund giant ABP, is the first institutional pension fund investor that has expressed its intention to participate in this initiative.HRC said talks with other pension funds were under way and the fund was intended to grow to €500m in two years.
Pension funds are expected to benefit from the initiative which aims to bring financial top talent back to the Netherlands, or to encourage them to stay.
Tarek Saber, head of corporate opportunity strategies at APG Investments, said: "IMQubator's mission is to sow, to coach, to nurture, to help and to provide solutions to entrepreneurs who want to start up a financial management company in the Netherlands.
"The aim is to establish a solid group of talented people who can be of service to the pension sector in a successful manner."
It is expected that every asset management start-up in which IMQubator invests, will be able to stand on its own feet after five to seven years.
In addition to assets under management, IMQubator will also provide starters with fiscal and legal advice and support with regard to risk management and administrative matters.
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