BPF Schilders, Zeist, Netherlands, hired Kempen Capital Management as its new fiduciary manager.
The €8 billion ($8 billion) pension fund for participants in the decorating, painting and glazing industry chose the firm following a selection process over the past year, said a translation of a news release on the fund's website.
Kempen Capital will advise the pension fund board on strategic investment policy, the translation said.
"We came to be impressed by the proactive and innovative approach used by Van Lanschot Kempen, especially as our fund aims to remain a front-runner in sustainability," said Dick Vis, employer chairman of BPF Schilders, in a separate Kempen news release. "While the new Dutch pension agreement means that there are challenging times ahead, as a pension fund, we are confident that we have found the right, future-proof partner" in Kempen.
Kempen had €80.6 billion in assets under management as of June 30.
Executives at BPF could not be reached for comment. A translation of the fund's latest annual report said its fiduciary management agreement with Dutch firm PGGM would end Dec. 31.
