The alternative investments business of Credit Suisse in the Benelux has been awarded a EUR 140 million private equity fund of funds investment mandate by the pension fund of Dutch retailer Ahold.
“The leading position of Credit Suisse in the private equity investment field and the experience of their team made them a natural choice for this mandate,” says Eric Huizing, pension fund’s director of investments, Ahold. “This also helps us to get more exposure in the European and US private equity markets. We particularly liked the collaborative nature of Credit Suisse’s offering, with their private equity specialists working in partnership with Ahold Pension Fund to help develop our in-house expertise and ensure joint alignment of interests.”
The mandate will enable Ahold Pension Fund to create its own “tailor-made” private equity programme with the help and expertise of the Customized Fund Investment Group (“CFIG”) of Credit Suisse, which will act as the manager of the mandate.
“As with most of these “tailor-made” programmes established by CFIG over the last decade, the mandate will be discretionary in nature but will be based on a truly collaborative approach, involving the pension fund throughout the various steps of the investment process,” says David Russell, managing director in Credit Suisse’s customized fund investment group.
“Despite the downturn in the market stemming from the credit crunch, Dutch institutional investors are increasing their allocations to private equity for the longterm because of the stable returns and diversification benefits this asset class offers,” says Olof Konst, vice president institutional clients Benelux for alternative investments within the asset management business of Credit Suisse. We are looking forward to partnering with Ahold Pension Fund and are happy to have been awarded this mandate. This confirms Credit Suisse’s solid position in private equity in the Dutch institutional market as it follows a similar mandate from investment manager A&O Services on behalf of the Painters, Finishers and Glaziers industry pension fund in the Netherlands.”
D.C.