APG (pension fund)

APG (All Pension Group) (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 Groep NV
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).[1][2][3][4] In the same year, it merged with Cordares, which carried out pension administration for bpfBOUW (The Foundation for the Construction Industry Pension Fund).[2][4][5] APG is known as the asset manager of ABP.[2][3][4][6]

AlpInvest Partners was owned by APG and PGGM until it was sold to The Carlyle Group in 2011.[6]

Overview

APG manages investments for various pension funds in the Netherlands.[1][2][4]

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[7] as well as satellite sites in Beijing and Shanghai.[8]

Notable transactions
  • In 2010, APG and CPPIB each purchased a 25% shareholding in Westfield Stratford City for £871.5m each.[9]
  • In 2011, ConnectEast was acquired by Horizon Roads in 2011 with APG having a 15% shareholding[10]
  • In 2019, Capco plc sold their interest in the Earls Court Exhibition Centre to APG and Delancey for £425 million.[11]
  • In 2019, APG acquired a 41.1 per cent indirect interest in Alpha Trains and acquired an additional 20.9% interest in 2021.[12]
  • In 2019, CPPIB sold its 39% stake in European car park manager, Interparking to APG.[13]
  • In 2020, APG along with NPS and Swiss Life Asset Managers acquired 81% stake in Portugal motorway operator, Brisa.[14]

Affiliated people

See also

References
  1. "APG looks to grow outside home turf". Reuters. 2008-12-10. Retrieved 2023-07-15.
  2. Denmark, Frances (2012-06-11). "Back to Basics at Dutch Pension Giant APG". Institutional Investor. Retrieved 2023-07-15.
  3. "ABP launches APG". www.professionalpensions.com. 2008-03-03. Retrieved 2023-07-15.
  4. Henderson, Julie; Kennedy, Liam (28 February 2009). "APG set to unveil its corporate strategy". IPE. Retrieved 2023-07-15.
  5. Harro ten Wolde (17 April 2008). "UPDATE 1-Dutch ABP fund unit APG to merge with Cordares". Reuters.
  6. "Carlyle expands with Dutch AlpInvest buy-out". Reuters. 2011-01-26. Retrieved 2023-02-06.
  7. "About". Investor Leadership Network. Retrieved 2021-02-24.
  8. "APG Said to Set Up Offices in Shanghai, Beijing China Mingtiandi". Mingtiandi. 2019-11-25. Retrieved 2021-02-24.
  9. Goh, Andrew Macdonald, Brenda (2011-09-07). "Westfield mall heralds profit and social change". Reuters. Retrieved 2021-02-19.{{cite news}}: CS1 maint: multiple names: authors list (link)
  10. EastLink’s big pension fund owners mull selldown, bankers scramble Australian Financial Review 27 November 2022
  11. Kelly, Megan (2019-11-18). "Capco sells Earls Court estate for £425m". Construction News. Retrieved 2021-02-19.
  12. Gray, Jack. "Dutch pension provider APG acquires further 20.9% stake in Alpha Trains". European Pensions.
  13. Sanjana Shivdas (23 October 2019). "Canada Pension Plan sells 39% stake in Interparking". Reuters.
  14. "Swiss Life, APG & NPS to Acquire 81% Stake in Portugal's Road Operator Brisa for USD 2.6bn; P/S 4x". Analyzemarkets.com.
  15. "Parliamentarians can keep the (other) day job". POLITICO. 1 November 2016.
  16. Preesman, Leen. "Dutch giant APG appoints Bart Le Blanc to supervisory board". IPE.
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