PGIM, Robeco, Aberdeen Get $11 Billion in Dutch Credit Mandates

Aberdeen Group Plc, PGIM Inc. and Robeco Institutional Asset Management are among firms to have been named as external managers for credit portfolios at PFZW, a Dutch pension fund that’s just pulled large equity mandates from BlackRock Inc. and AQR Capital Management.

Aberdeen and Robeco are each getting credit mandates worth about €3.7 billion ($4.3 billion), while PGIM was awarded a €1.8 billion mandate. In total, the three contracts represent almost $11 billion in credit assets, according to updates on PFZW’s website.

PGGM, which handles investments on behalf of PFZW and other Dutch pension funds, declined to comment ...