Institutional Investors

PGGM’s hedge fund overhaul is nearly complete with FoHFs off the menu

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Dutch pension giant implements managed accounts for responsible investing

By Claire Makin

Last year, PGGM, the healthcare and social workers pension fund, stirred up a hornet’s nest of publicity by announcing that it would withdraw from funds of hedge funds. Instead, the $142 billion Dutch pension fund service provider said that it would be taking direct responsibility for selecting and monitoring its own hedge fund investments.

The Netherlands’ largest institutions are used to being in the public eye, not least because they are innovators, but also because the country’s social contract holds them accountable to their investors – a duty that they