Dutch pension administrator APG joins Long-Term Investors Club

Institutional powerhouse joins increasingly significant grouping

APG, the €272bn Dutch pension asset management firm owned by the civil service fund ABP, has joined the Long-Term Investors Club (LTIC), the two-year-old platform for major investors.

The group was set up in 2009 by a group of European institutions comprising France’s Caisse des Dépôts, Italy’s Cassa Depositi e Prestiti, the European Investment Bank and KfW Bankengruppe of Germany to encourage long-term investment thinking.

APG becomes the third pension investment member of the group, joining Canada’s Ontario Municipal Employees Retirement System and the Caisse de dépôt et placement du Québec.

APG joined during LTIC’s third annual conference in Berlin last week, as did the Indian Infrastructure Development Finance Company Limited (IDFC). The theme of the event was “financing future challenges”.

In September last year the group wrote to EuropeanUnion Commissioner Michel Barnier with proposals to foster long term investment.

Apart from the founding members, the LTIC boasts an impressive roster of financial institutions – who have to comply with principles of transparency and social and environmental responsibility.

They include: Abu Dhabi’s state-owned Mubadala Development Co., Polish development bank Gospodarstwa Krajowego (BGK), the Industrial Development Bank of Turkey (TSKB), the China Development Bank, Russian development bank Vnesheconombank and Morocco’s Caisse de Dépôt et de Gestion.

LTIC Chairman Augustin de Romanet, who also heads up France’s Caisse des Dépôts, said the new members would enable the initiative to take the next step towards emerging markets and private investors.

The members confirmed de Romanet as chairman until 2012, with the Caisse running the secretariat.