Dutch Pension Fund PFZW Awards $17.6 Billion Mandate to Robeco

PFZW, a Dutch pension fund that’s just pulled large equity mandates from BlackRock Inc. and AQR Capital Management, is awarding a major contract that includes credit to Robeco Institutional Asset Management.

The agreement is worth more than €15 billion ($17.6 billion), Robeco said in an emailed statement on Friday. That includes an €11.7 billion mandate for equities as well as a €3.7 billion mandate for credit, the Dutch asset manager said. The mandates were distributed by PGGM, which handles investments on behalf of PFZW and other Dutch pension funds.

A spokesperson for PGGM said work on the mandate ...