APG Asset Management is investing €500 million in European infrastructure through a new partnership with infrastructure investment manager Equitix. The investment is being made on behalf of pension fund ABP. Of the total amount, €400 million is invested through a Strategic Managed Account (SMA).
The partnership gives APG access to infrastructure investments sourced and managed by Equitix across the UK and continental Europe. The portfolio is expected to include investments in sectors such as rolling stock, offshore electricity transmission and water infrastructure. Some investments will focus specifically on areas that contribute to long-term sustainability objectives.
In addition to the €400 million commitment to the Strategic Managed Account, APG is considering investing another €100 million in the Equitix Growth Infrastructure Fund. That investment is still subject to the finalization of relevant arrangements.
The new partnership is APG’s first investment partnership with Equitix. It is intended to broaden APG’s access to infrastructure investment opportunities across Europe, including investments related to the energy transition, resilient infrastructure and essential services.
Arjan Reinders, Head of Infrastructure Europe at APG, says the structure allows APG to invest in a wider range of infrastructure assets on behalf of ABP.
“The Strategic Managed Account, together with the contemplated investment in the Equitix Infrastructure Growth Fund, broadens our access to attractive opportunities across water infrastructure, offshore transmission, rolling stock and other essential infrastructure.”
Equitix manages approximately $20 billion for institutional investors and invests in areas including transport, renewable energy, environmental services, utilities and digital infrastructure. Established in 2007, the company has teams across Europe and recently opened an office in Amsterdam.