Dutch pension giant APG has awarded a €425m infrastructure mandate to Schroders Capital, the pension fund confirmed today.
APG, which manages some €590bn in assets on behalf of pension fund clients, most notably Dutch public sector pension fund ABP, is a longstanding investor in infrastructure projects such as the Noordzeker wind energy park in the North Sea.
However, it is new to infrastructure debt, as Menno van den Elsaker, APG’s head of alternative credits, said: “With our first steps into infrastructure debt and a growing commitment to impact credit, we’re aligning capital with purpose… The expansion into real asset credit is a natural evolution of our clients’ strategy, and we’re engaging with partners who share our ambition to drive measurable outcomes.”
The mandate is structured to focus on APG’s key investment priorities iincluding climate change, the energy transition, enhancement of waste management and the circular economy, as well as workplace safety.
It makes APG a cornerstone investor in Schroders Capital’s newly launched strategy, focused on high-yielding infrastructure, also known as ’HENRI’, which specialises in mid-market lending.
Schroders Capital is a major investor in European Infrastructure debt. Specialising in mid-market companies and investing across the entire debt capital structure, it has deployed some €9bn in loans since its inception in 2012.
