This content is from: Corner Office

PGGM, BAM Set Up €390M Infra JV

Dutch pensions manager, PGGM, has entered a €390 million infrastructure joint venture agreement with construction company, Royal BAM Group.

Dutch pensions manager, PGGM, has entered a €390 million infrastructure joint venture agreement with construction company, Royal BAM Group, Financial News reports. PGGM, which looks after €99 billion on behalf of Dutch pension funds, will contribute nearly €270 million to the joint venture, while BAM will contribute a further €120 million towards the new projects.

Out of PGGM’s total contribution, €150 million will be used to back BAM’s existing portfolio of public-private-partnership projects in the U.K., the Netherlands and other European countries, while €120 million will be put toward buying new projects. BAM, whose contribution will all be in the social and transport sectors, will serve as the manager of the assets.

Click here for the story from Financial News.

Click here for additional coverage from IPE.

Related Content