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Credits

Credits provide broad access to developed market, non-government bonds and loans issued primarily in EUR and USD. The expected return over the medium to long term is higher than the risk-free rate, to compensate for the credit risk taken.

 

Credits consist of two main product categories:

Developed Market Credits, which is a highly diversified portfolio of listed, more liquid, investment grade and high yield credit investments and Alternative Credits, which is a more concentrated portfolio of private, illiquid, and more complex credit investments.

 

The credits asset class is also partially used to hedge the interest-rate risk of the pension-fund liabilities.

73
Billion euros AUM*
49
Professionals worldwide
//state 1 //state 2

News & Insights

24 November 2025

APG invests in impact bond for water conservation and cleaner water in Italy

Background

02 July 2025

The triple disruption reshaping the auto sector

Background

13 March 2025

APG invests in new Impact Lending Strategy by Arcmont

News - Investing, Social responsible

21 November 2024

Customized debt investments to finance affordable housing in the US

Background - Investing, Social responsible

10 September 2024

APG anchors AllianzGI’s Impact Private Credit Strategy

Background - Investing, Social responsible

20 June 2024

Expanding our approach to include bespoke solutions to fulfill client goals

Background - Investing, Social responsible, Financial markets & economy

15 April 2024

Investing in green bonds to support a robust and sustainable energy system

Background - Investing, Social responsible

25 March 2024

“More efficient and cheaper batteries will make electric cars a more serious alternative”

Interview

05 February 2024

APG invests in low-carbon steelmaking facility

News - Investing

12 December 2023

Women’s Livelihood Bond: empowering women and girls in developing countries

Background - Investing

28 September 2023

Supporting the US residential solar market with Solar ABS

News - Investing

28 August 2023

“Just because we don’t have ownership rights or voting powers doesn’t mean we cannot influence behavior”

Background - Investing

23 August 2023

Investing in a blue future

Interview - Investing

06 October 2020

Sustainable bond investment empowers US Black and Hispanic communities

Social responsible, Investing

22 April 2020

APG invests nearly €350 million in Covid-19 response bonds

Investing

The Credits team

 

Credits consists of 49 investment  professionals positioned across APG offices (HK, AMS, NY) to ensure localized expertise for the main product categories. Specialization means that we as a team of highly experienced credit professionals know what we own, have local market presence and have clearly defined responsibilities within that team. Next to expert knowledge, we work together to help, challenge and support each other in investment decisions on all levels of the mandate. This results in an open dialogue, cooperation and mutual trust within the global credit team.

 
Tim Slütter

Credit investments provide extra return for future stable pensions.

Tim Slütter

Our investment process

 

Credits offers a diversified portfolio of non-Treasury, Investment Grade, High Yield and Alternative Credit assets, primarily in developed countries. The strategy is based on the philosophy that to achieve superior long term credit returns in a risk controlled way, it is crucial to have in-depth specialization combined with the right team culture. 


The overall objective of the strategy is to capture the credit risk premium in a risk-controlled way by profiting from market inefficiencies while controlling for downside risks. Expert knowledge and a good team culture help us capitalize on earning the credit risk premium over time across all relevant portfolios.

 

Read more about our investment process.

 

Contact

Herman Slooijer

CIO Capital Markets