AG Real Estate has become one of the first foreign investors in Amvest’s core Dutch residential property fund.

The subsidiary of Belgian insurance provider AG Insurance – along with an unnamed European investor – have committed €100m to the Amvest Residential Core Fund.

Amand-Benoît D’Hondt, head of funds at AG Real Estate, said: “We are delighted to be one of the first two foreign investors in the ARC fund, which we have selected after a thorough analysis of the Dutch market.

“The quality of the assets, the asset locations and the quality of Amvest’s management team have convinced us to invest in ARC fund.”

Amvest is focused on the mid-priced rental segment in regions of the Netherlands that it regards as economically strong, with a significant presence in the Randstad area.

Last year, Dutch investor Coöperatie Draagt Elkanders Lasten (DELA) joined the fund, contributing its own €121m portfolio.

Wim Wensing, director of investment management at Amvest, said the fund has a “significant pipeline in place”.

The manager has started drawing the commitments from the fund, which now has €1.5bn in total equity.