After Selling AlpInvest, Giant LP APG Paves New Path

Pension Manager: Algemene Pensioen Groep (APG)

Assets Managed: $432 billion

Key PE Executives: Greg Jania, Iain Leigh

Now based in APG’s New York office, Jania started in his new role in January, according to his LinkedIn page. In his new capacity, Jania reports to Iain Leigh, APG’s global head of private equity. News of the hiring was confirmed by APG spokesman Michel Meijs.

In 2011, together with fellow Dutch pension manager PGGM, APG sold its stake in AlpInvest, the private equity fund-of-funds manager that invested on behalf of the two giant pension managers, to The Carlyle Group for an undisclosed amount.

Even with APG’s commitment to invest billions of dollars with AlpInvest through 2015, the pension manager has been in the process of looking for ways to manage parts of its private-equity program in-house.

At the time of the sale to Carlyle Group, AlpInvest had roughly $44 billion in invested private equity capital. A large share of that money was invested on behalf of APG, making it one of the biggest private-equity investors in the world. With more than $432 billion in assets, APG is nearly twice as big as the $255 billion California Public Employees’ Retirement System, the largest pension in the United States.