APG to funnel €4bn into private equity

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.