PGGM invests S$360m in Asia real estate via Alpha separate account | News

The Dutch pension fund manager PGGM invests in real estate in Asia via a separate account investment mandate of S $ 360 million (€ 228 million) at Alpha Investment Partners in Singapore.

The investment in the so-called Alpha Asia Separate Account can possibly be increased to S $ 680 million.

Alpha Partners, a private fund management arm of Keppel Capital, said it has a top-up option of up to S $ 320 million.

The fund will focus on core plus opportunities, particularly commercial real estate in key cities in Japan and China as well as Singapore.

PGGM first invested in various Alpha managed funds more than 15 years ago.

Alvin Mah, Alpha CEO, said, “We are encouraged by the continued trust PGGM has shown us, especially in this challenging environment.”

Mah said the latest investment mandate shows “the confidence institutional investors have in Alpha’s ability to deliver solid returns to our investors.”

“Following the success of our previous investments at Alpha, we are excited to expand our relationship,” said Mah.

In a joint statement, Jikke de Wit and Ping Ip of PGGM Private Real Estate said, “This investment reflects our confidence in Asia’s long-term growth prospects and Alpha’s ability to identify attractive opportunities in these markets.”

A spokeswoman for Alpha Partners told IPE Real Assets that the company had separate accounts (e.g. at PGGM) for other investors, but that they could not disclose any further details.

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