Stipp, the €3bn Dutch pension fund for temporary workers, has awarded a private real estate mandate of more than €400m to Van Lanschot Kempen.
Stipp has made an initial commitment of €190m to Kempen, and expects to increase the commitment to over €400m by the end of 2026.
Acting as both asset and fiduciary manager for Stipp, Kempen will choose investments across a range of European real estate sub-sectors including healthcare.
Stipp’s current real estate portfolio, valued at €213m, consists of investments in listed real estate and two Dutch residential real estate funds.
The pension fund disclosed in its 2023 annual report, that it was seeking to diversify by expanding into other European countries and sectors, including healthcare.
Lodewijk van Pol, a trustee at Stipp, responsible for investments, said: “The experience of Van Lanschot in selecting the right managers fits excellently with our ambition to further develop our sustainable investment strategy.”
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