Sale of Dutch residential portfolio Sole financial advisor to PGGM
- PGGM had a 50% stake in the Amvest Residential Dynamic Fund, managed by Amvest
- PGGM's sold portfolio consisted of >1,000 residential units spread across 25 cities in the Netherlands
- Kempen held a competitive auction to maximize value
- Kempen acted as sole financial adviser to PGGM
PGGM provides services in the field of pension management, integral asset management and executive advice to pension funds, affiliated employers and their employees. As per the end of 2017, PGGM managed pension assets worth €218 billion for a variety of pension funds.
Amvest was created in 1997 from the merger of the Dutch property units of the Pension fund Zorg & Welzijn (PfZW) and Aegon, the insurer. The company manages two funds: the Amvest Residential Core Fund and the Amvest Living & Care Fund. Amvest is also fund manager for several separate accounts including four portfolios of Aegon. At the end of 2017, the funds and separate accounts had approximately 20,000 homes under management. The total value of the assets under management was €4.4 billion.