NETHERLANDS - Dutch pension fund investor APG has planned to increase its exposure to private equity by committing €4bn (US$5.9bn) to new investments.
The institution has awarded a new mandate to private equity fund manager AlpInvest Partners, which APG co-owns with fellow Dutch pension fund investor PGGM.
APG currently has €7bn invested in private equity, all of which is managed by AlpInvest.
The new mandate is part of APG's strategy to increase its private equity exposure from 4% to 5%.
APG spokesman Thijs Steger was unable to give an exact timeframe but said the new capital would be invested over "the coming years".
AlpInvest has managed the private equity investments for APG and PGGM since 1999 and has full discretionary power over all investment decisions.
The company also manages private equity investments on behalf of other pension funds in Europe and Canada.
AlpInvest declined to comment.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.