Bouwinvest has been awarded €92.5m in mandates from four Dutch pension schemes for its domestic residential fund.

The €2.6bn Dutch Residential Fund was backed by the country’s physiotherapists, media industry and COOP pension funds, as well as the confectionery industry’s scheme, an existing investor.

Bouwinvest said the Pensioenfonds Fysiotherapeuten (physiotherapists) and Pensioenfonds PNO Media had respectively invested €25m and €40m.

Both were advised by Grontmij Capital Consultants.

Pensioenfonds COOP invested €7.5m, advised by Zanders Treasury & Finance Solutions.

Bedrijfstakpensioenfonds voor de Zoetwarenindustrie (confectionery) added €20m to its existing €30m investment in the fund, made last year.

Dick van Hal, chief executive at Bouwinvest, said the commitments marked a “sea change” in investors’ perception towards the residential market in the Netherlands.

The funds are co-investing with Bouwinvest’s parent company bpf Bouw, the construction workers pension fund.

Van Hal said the fund was targeting a 6% return.

“Housing prices have turned a corner after five years of declines, and moves by the Dutch government to liberalise the rental market are providing a more level playing field for investors,” he added.

Four Dutch pension funds this week backed a domestic residential fund managed by Amvest, with €75m committed.

The fund manager said the institutions backed its Residential Core Fund and that it would use the capital to develop and strengthen its portfolio.