Searches and Hires

PGB taps Aberdeen Standard for private equity

Pensioenfonds PGB, Amsterdam, hired Aberdeen Standard Investments to manage a €500 million ($565 million) private equity allocation, a spokesman said.

Over five years, the €26.5 billion pension fund will invest in small- and medium-size companies across Europe through a separate account with Aberdeen.

ASI will construct a diversified portfolio of private equity funds for PGB and screen companies in the portfolio on renewable energy usage, emissions, environmental policies, anti-corruption measures and diversity, tracking their progress toward the United Nations' Sustainable Development Goals adopted in 2015.

"For large private equity funds, financial leverage is an important contributor to gain high returns," said Dick Tol, senior portfolio manager private equity at PGB, in a news release. "PGB is targeting a more hands-on approach where the majority of the return is generated by growth. The PGB private equity team will closely monitor the job creation and turnover growth in every company."