Robeco, Rotterdam, Netherlands, hired NN Investment Partners as fiduciary manager for its pension fund, effective Jan. 1, a spokesman confirmed.
NN IP will manage €750 million ($829 million) in assets on behalf of 2,700 pension plan participants. The firm will provide strategic investment oversight, balance sheet management and advice, monitor asset managers as well as support operations and the pension fund's ESG policy.
Following an extensive selection process, NN IP was selected due to a commitment to fiduciary management, extensive knowledge of Dutch pension fund issues and the breadth of ESG services," said Tom Steenkamp, chairman of the board, in a news release.
NN IP replaced Robeco as the pension fund's fiduciary manager. Robeco exited the fiduciary management market in the Netherlands earlier this year.
