Institution:Â PGGM
Headquarters:Â Zeist, Netherlands
AUM: €266 billion
Allocation to alternatives: 22%
PGGM has approved a commitment of A$350 million (US$269.5 million; €192.7 million) to EG‘s open-ended Australian Core Enhanced fund, according to a press release on the fund manager’s website.
The ACE fund has raised A$1.25 billion since its launch in July 2019. As of April 2021, the Sydney-based fund manager has deployed A$234 million in the acquisition of five property assets. The fund will continue to target light industrial and logistics property across Sydney and Brisbane.
Earlier this month, PGGM awarded a mandate to Singaporean firm Keppel Capital in an attempt to further explore commercial real estate investments across Asia-Pacific.
PGGM currently allocates 12 percent of its investment portfolio to real estate.
As illustrated below, the €266 billion pension fund’s recent real estate commitments have predominantly targeted core, core-plus and value-add opportunities across Europe and Asia-Pacific.
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