News in brief: 16 April

- Dutch pension fund manager, PGGM, has awarded Alpha Investment Partners a S$360m separate account mandate.

The Alpha Asia Separate Account (the fund) includes a top-up option of up to S$320m, which would bring the aggregate commitment to S$680m if the top-up option were fully exercised. The fund will focus on core-plus opportunities predominantly in commercial real estate in key cities in Japan and China, as well as in Singapore.

- Industriens Pension has taken over ownership of a property development located in Aarhus consisting of 190 newly built apartments in Åbyhøj by KPC Ejendomsudvikling.

At the end of 2018, Industriens Pension entered into a preliminary agreement to buy the completed housing project, which is part of a larger new green residential area. Ådalshuset has a total area of almost 16,800 square meters, which is divided into many different apartment types of between 56 and 126 square meters. In addition, the property includes a parking basement with 92 parking spaces.

- AXA Investment Managers has launched a climate credit strategy to help institutional investors achieve net-zero goals.

The strategy will seek to mitigate against both the physical and transitional risks related to climate change, as well as integrating specific climate-related objectives in line with investor requirements, such as the Task Force on Climate-related Financial Disclosures. As part of this, the strategy will invest in climate solutions, investments and projects that are required to meet the goal of net zero by 2050, whilst also heavily decarbonising issuers to drive the transition. It was created around the three core objectives of capital preservation, climate alignment, and credit return, and aims to provide a maturity-based approach to considering climate risk.

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