Dutch pension investment manager APG will focus its infrastructure strategy on its commitment to the energy transition in 2024.
APG’s new strategy is based on five themes: decarbonized mobility and transport; clean and connected renewable power; equality and quality of life; a circular economy and digital infrastructure with enhanced connectivity.
APG manages the assets of the largest pension fund in the Netherlands, ABP, which has three million participants and $545 billion (€502 billion) in assets. APG is a direct subsidiary of ABP.
ABP’s infrastructure investment is set to be reorganized. The mandate for APG to handle its investments is set to be renewed in Q1 2024, and ABP increased its allocation to infrastructure from 4% to 7% in December.
APG will bid alongside SSE Renewable for two offshore wind developments with a 2-Gigawatt (GW) capacity each, which the Dutch government is set to invite proposals for soon.
The pensions investment manager is already invested in a 396-Megawatt (MW) German offshore wind farm, but the 2GW farm would be a much larger undertaking.
Source: Banking Exchange on 5 Feb https://m.bankingexchange.com/component/k2/item/9897-apg-sets-out-new-strategy-targeting-energy-transition-investments?Itemid=