PGGM and BAM expand joint venture to €600m
Dutch pension investor PGGM has increased its capital commitment to the joint venture with construction services company BAM PPP by another €140m, rasing the total campital committed by both parties to €600m.
The joint venture BAM PPP PGGM Infrastructure Coöperatie U.A. has now invested in 21 projects across north-western Europe, including include tram projects, motorway projects, government buildings, schools and a hospital in the Netherlands, Germany, Belgium and Ireland.
Frank Roeters van Lennep, head of PGGM Infrastructure comments: “The joint venture enables BAM and PGGM to together invest in a diversified portfolio of European PPP projects, with the revenue coming from European governments. This is an extremely efficient means of being able to invest for our clients, at low costs and with a great deal of control of what happens with the money.”