Tjibbe Hoekstra

The joint venture comes months after Lifetri, an insurer owned by Sixth Street, pulled out of the Dutch buyout market following a lack of success due to its small size

Despite the large purchase, the fund will remain underweight mortgages compared to other Dutch pension funds

The €10bn fund will only keep about 70 companies in a new buy-and-hold approach

Selective opportunities in private markets and medium-term risks in the US despite the current post-election bull market

Most schemes have now reached their target allocation to the asset class which is also experiencing renewed competition from listed bonds

The risk of missing out on new investment trends is seen as the main drawback of a concentrated portfolio with a buy-and-hold strategy

Following a process of more than a decade, the largest-ever reform of the Dutch pension system, itself the largest occupational pension system in the European Union, is finally nearing a close.

The scheme's new concentrated portfolio only includes 65 companies

The pension asset manager also tried to fire its chief economist for criticising the firm's switch to '3D-investing'

ABP and Bpf Bouw, two of the largest four pension funds in the Netherlands with over €600bn in assets between them, have sold their shares in Tesla over ESG concerns