APG (pension fund)

APG Groep NV
Native name	Algemene Pensioen Groep NV
Industry	Investment management
Founded	March 1, 2008
Headquarters	Heerlen, Netherlands
Key people	Annette Mosman (CEO)
AUM	€601 billion (December 2025)
Owner	Stichting Pensioenfonds ABP
Website	apg.nl

APG (All Pension Group) (Dutch: Algemene Pensioen Groep) is a Dutch pension investment company based in the Netherlands. It is a direct subsidiary of Stichting Pensioenfonds ABP, the largest pension fund in the Netherlands.

History

APG was established on 1 March 2008 as an independent administration organization of Stichting Pensioenfonds ABP (ABP).^[1]^[2]^[3]^[4] In the same year, it merged with Cordares, which carried out pension administration for bpfBOUW (The Foundation for the Construction Industry Pension Fund).^[2]^[4]^[5] APG is known as the asset manager of ABP.^[2]^[3]^[4]^[6]

AlpInvest Partners was owned by APG and PGGM until it was sold to The Carlyle Group in 2011.^[6]

Overview

APG manages investments for various pension funds in the Netherlands.^[1]^[2]^[4]

It has three subsidiaries which are:

APG Pensioendienstverlening (pension administration)
APG Asset Management

APG has offices in Amsterdam, Heerlen, Brussels, New York, Hong Kong and Singapore.

Notable transactions

In 2010, APG and CPPIB each purchased a 25% shareholding in Westfield Stratford City for £871.5m each.^[7]
In 2011, ConnectEast was acquired by Horizon Roads in 2011 with APG having a 15% shareholding^[8]
In 2019, Capco plc sold their interest in the Earls Court Exhibition Centre to APG and Delancey for £425 million.^[9]
In 2019, APG acquired a 41.1 per cent indirect interest in Alpha Trains and acquired an additional 20.9% interest in 2021.^[10]
In 2019, CPPIB sold its 39% stake in European car park manager, Interparking to APG.^[11]
In 2020, APG along with NPS and Swiss Life Asset Managers acquired 81% stake in Portugal motorway operator, Brisa.^[12]
In 2021, APG along with The Blackstone Group acquired GCP Student Living for £969 million.^[13]
In 2025, APG along with Orange Polska acquired fibre-optic wholesaler Nexera for approximately €350 million.^[14]
In 2025, APG (representing ABP), in a consortium with GIC and Norges Bank Investment Management, reached an agreement to invest €9.5 billion for a 46% stake in TenneT Germany, with APG committing €2.5 billion to support the expansion of the high-voltage electricity grid.

Affiliated people

Guy Verhofstadt - Prime Minister of Belgium (1999 to 2008)^[15]
Bart le Blanc - Chairman of the Investment Committee of the United Nations^[16]

References

1 2 "APG looks to grow outside home turf". Reuters. 10 December 2008. Retrieved 15 July 2023.
1 2 3 4 Denmark, Frances (11 June 2012). "Back to Basics at Dutch Pension Giant APG". Institutional Investor. Retrieved 15 July 2023.
1 2 "ABP launches APG". www.professionalpensions.com. 3 March 2008. Retrieved 15 July 2023.
1 2 3 4 Henderson, Julie; Kennedy, Liam (28 February 2009). "APG set to unveil its corporate strategy". IPE. Retrieved 15 July 2023.
↑ Harro ten Wolde (17 April 2008). "UPDATE 1-Dutch ABP fund unit APG to merge with Cordares". Reuters.
1 2 "Carlyle expands with Dutch AlpInvest buy-out". Reuters. 26 January 2011. Retrieved 6 February 2023.
↑ Goh, Andrew Macdonald, Brenda (7 September 2011). "Westfield mall heralds profit and social change". Reuters. Retrieved 19 February 2021.{{cite news}}: CS1 maint: multiple names: authors list (link)
↑ EastLink’s big pension fund owners mull selldown, bankers scramble Australian Financial Review 27 November 2022
↑ Kelly, Megan (18 November 2019). "Capco sells Earls Court estate for £425m". Construction News. Retrieved 19 February 2021.
↑ Gray, Jack (14 January 2021). "Dutch pension provider APG acquires further 20.9% stake in Alpha Trains". European Pensions.
↑ Sanjana Shivdas (23 October 2019). "Canada Pension Plan sells 39% stake in Interparking". Reuters.
↑ "Swiss Life, APG & NPS to Acquire 81% Stake in Portugal's Road Operator Brisa for USD 2.6bn; P/S 4x". Analyzemarkets.com.
↑ "GCP Student Living surges as it agrees £969m takeover". Share Cast. 16 July 2021. Retrieved 13 December 2021.
↑ "Orange Polska and APG to acquire fibre-optic wholesaler Nexera". Telecoms. Retrieved 22 December 2025.
↑ "Parliamentarians can keep the (other) day job". POLITICO. 1 November 2016.
↑ Preesman, Leen. "Dutch giant APG appoints Bart Le Blanc to supervisory board". IPE.

External links

Official website

[:1-1] 1 2 "APG looks to grow outside home turf". Reuters. 10 December 2008. Retrieved 15 July 2023.

[:2-2] 1 2 3 4 Denmark, Frances (11 June 2012). "Back to Basics at Dutch Pension Giant APG". Institutional Investor. Retrieved 15 July 2023.

[:3-3] 1 2 "ABP launches APG". www.professionalpensions.com. 3 March 2008. Retrieved 15 July 2023.

[:4-4] 1 2 3 4 Henderson, Julie; Kennedy, Liam (28 February 2009). "APG set to unveil its corporate strategy". IPE. Retrieved 15 July 2023.

[5] Harro ten Wolde (17 April 2008). "UPDATE 1-Dutch ABP fund unit APG to merge with Cordares". Reuters.

[:0-6] 1 2 "Carlyle expands with Dutch AlpInvest buy-out". Reuters. 26 January 2011. Retrieved 6 February 2023.

[7] Goh, Andrew Macdonald, Brenda (7 September 2011). "Westfield mall heralds profit and social change". Reuters. Retrieved 19 February 2021.{{cite news}}: CS1 maint: multiple names: authors list (link)

[8] EastLink’s big pension fund owners mull selldown, bankers scramble Australian Financial Review 27 November 2022

[9] Kelly, Megan (18 November 2019). "Capco sells Earls Court estate for £425m". Construction News. Retrieved 19 February 2021.

[10] Gray, Jack (14 January 2021). "Dutch pension provider APG acquires further 20.9% stake in Alpha Trains". European Pensions.

[11] Sanjana Shivdas (23 October 2019). "Canada Pension Plan sells 39% stake in Interparking". Reuters.

[12] "Swiss Life, APG & NPS to Acquire 81% Stake in Portugal's Road Operator Brisa for USD 2.6bn; P/S 4x". Analyzemarkets.com.

[13] "GCP Student Living surges as it agrees £969m takeover". Share Cast. 16 July 2021. Retrieved 13 December 2021.

[14] "Orange Polska and APG to acquire fibre-optic wholesaler Nexera". Telecoms. Retrieved 22 December 2025.

[15] "Parliamentarians can keep the (other) day job". POLITICO. 1 November 2016.

[16] Preesman, Leen. "Dutch giant APG appoints Bart Le Blanc to supervisory board". IPE.

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