Tikehau Capital selected by Pensioenfonds Detailhandel for a €100m impact private debt mandate

23 maart 2022

Tikehau Capital publishes:
Paris & Amsterdam, 22 March 2022 – Tikehau Capital, the global alternative asset manager, announces that it has been entrusted by Pensioenfonds Detailhandel, the pension fund for the retail sector in the Netherlands, to manage a €100m impact private debt mandate, through its Impact Lending strategy.

The investment mandate issued follows Pensioenfonds Detailhandel’s decision to allocate c.1% of their total assets to three managers active in the impact investing space. Tikehau Capital was selected for its pan-European capabilities combined with its highly regarded impact investing platform and expertise. Earlier this month, the Dutch pension fund invested in Polestar Capital’s circular economy debt fund. A third manager will be issued with a mandate focused on emerging markets.

Launched in December 2020, Tikehau Capital’s Impact Lending strategy seeks to contribute to a sustainable European economy while providing investors with competitive returns. It primarily invests in SMEs which contribute to the sustainable economic transition through their product offering, resource management, or processes. In February 2021, the fund held a first close at c. €100 million with the support of EU European Fund for Strategic Investments (EFSI). At the end of December 2021, the fund was managing €273 million.

Tikehau Impact Lending’s approach and investment framework is closely aligned with Pensioenfonds Detailhandel’s own investment philosophy. Their Socially Responsible Investment Policy is informed by the conviction that investing in a socially responsible manner is key to contributing positively to the environment and society, whilst generating long-term returns for their clients.

Pensioenfonds Detailhandel’s mandate is aligned with three of the United Nations Sustainable Development Goals (SDGs), namely SDG 8: “Decent Work & Economic Growth”, SDG 12: “Responsible Consumption & Production” and SDG 13: “Climate Action”, areas that are part of Tikehau Impact Lending fund’s priorities and investment framework.

Nathalie Bleunven, Head of Corporate Lending at Tikehau Capital, commented: “We are delighted that Pensioenfond Detailhandel has selected us as the fiduciary manager of this €100m investment mandate. The Netherlands is well known for being ahead of the curve when it comes to their ESG outlook and approach. With €1.6 trillion of pension fund assets under management in the country, Pensioenfond Detailhandel is leading the way when it comes to investing their capital responsibly. Our extensive knowledge of the pan-European private debt market, coupled with our advanced sustainability and impact framework, makes us ideally positioned to generate a positive social and environmental impact, in addition to a financial return.”

“Investing our capital with a socially responsible approach, whilst generating long term value is central to our investment principles and decision-making at Pensioenfonds Detailhandel. Tikehau Capital’s impressive impact investing credentials, in addition to their in depth understanding of the European market is fully aligned with our objectives.” Henk Groot, Head of Investments at Pensioenfonds Detailhandel, added.

Detailhandel

Detailhandel is een BPFv met eind Q4 2021 een belegd vermogen van € 32.673 miljoen waarvan 0% herverzekerd en 0% voor risico deelnemer.

Het fonds heeft een deelnemersbestand met in 2020 310.044 actieve bijdragers en 120.090 pensioengerechtigden. De beleggingen voor risico pensioenfonds hadden in Q4 2021 een rendement van 3%.

Eind Q4 2021 had het fonds een beleidsdekkingsgraad van 114.5% terwijl de vereiste dekkingsgraad op dat moment 117.8% bedroeg. De fiduciair manager van het fonds is BlackRock en de pensioenadministratie wordt uitgevoerd door Capgemini.

Source: Pensioenfonds Detailhandel
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