Dutch pension services provider APG, which manages €577bn in assets, has invested in a sustainable direct lending platform managed by Colesco Capital.
The platform has raised more than €800m in its first close, with Rabobank also participating as a cornerstone investor alongside APG. The Dutch pension provider manages the pension assets of ABP, bpfBouw, and PPF.
Colesco's direct lending platform, underpinned by its Responsible Investment Framework, targets European mid-market businesses with a clear pathway to achieving net zero. This includes investments in companies involved in sustainable food and the energy transition.
Colesco has committed to providing regular reports on the outcomes of its investments, utilising sustainability KPIs and the IRIS+ framework to demonstrate the impact of its financial backing.
Commenting on APG's investment, Menno van den Elsaker, head of Alternative Credits, said: "Colesco stood out as one of the few managers able to meet our requirements for sustainable investments while also delivering attractive returns for our clients in a responsible manner. With this investment, we are especially excited to support the sustainable growth ambitions of companies in the Netherlands."
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