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Article: Ireland: APG makes strategic 150m alternative energy bet.
- Article from:
- TendersInfo
- Article date:
- August 25, 2009
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Byline: prashant03
APG Asset Management, the wholly-owned fund manager of the 180bn Dutch ABP civil servants pension fund, has taken a position worth about 150m ($215m) in companies with green and alternative energy businesses after betting on a mix of low valuations and governmental stimulus packages for the sector.
The manager has bought a basket of 40 companies wholly or partly involved in green energy production or product supply as part of its 3.5bn Global Top-down Strategies Fund. Frank Smudde, fund manager at APG in the team of five that runs the strategy, said the basket represents 4% of the total fund, but is a significant exposure to the ...