Stichting Pensioenfonds Smurfit Kappa Nederland, Heerlen, Netherlands, hired NN Investment Partners as fiduciary manager of its full €800 million ($842 million) investment portfolio, a spokesman said in an email Monday.
The manager will have full fiduciary management authority for the pension fund's investment portfolio as well as provide liability-driven investing services, the spokesman said.
NN Investment Partners is a subsidiary of Goldman Sachs Group, which purchased the manager in 2021 from insurer NN Group.
"The pension fund values intensive cooperation with an asset manager that focuses on investments, while at the same time considering the complex pension issues. We look forward to working together with Goldman Sachs," said Marco Kiewiet, director of Stichting Pensioenfonds Smurfit Kappa Nederland, in a news release Monday.
A search for a fiduciary manager began in January and NN Investment Partners' contract began on Dec. 1, according to the news release.
The spokesman could not immediately provide further information.