APG Asset Management on behalf of the €419 billion ($476 billion) Stichting Pensioenfonds ABP, Heerlen, Netherlands, committed A$300 million ($210 million) to an Asia-Pacific real estate debt strategy managed by MaxCap Group, an APG spokesman said Monday in an email.
The fund has the option to commit an additional A$300 million to the strategy, the spokesman said.
The real estate debt strategy offers the fund "the opportunity to access this asset class with an appealing risk-return proposition," said Graeme Torre, managing director and head of private real estate of Asia-Pacific, in a news release.
APG Asset Management has about €1 billion in real estate debt.
