Credit Suisse take Ahold

The alternative investments business of Credit Suisse in the Benelux has been awarded a €140mn private equity fund-of-funds investment mandate by the €2.2bn pension fund of Dutch retailer Ahold.

The mandate will enable Ahold Pension Fund to create its own private equity programme with the help of the Customized Fund Investment Group (CFIG) of Credit Suisse which will act as the manager of the mandate

Vice president institutional clients Benelux for Alternative Investments within the asset management business of Credit Suisse, Olof Konst said: “Despite the downturn in the market stemming from the credit crunch, Dutch institutional investors are increasing their allocations to private equity for the long-term because of the stable returns and diversification benefits this asset class offers.”

Managing Director of Credit Suisse’s Customized Fund Investment Group commented: “The mandate will be discretionary in nature but will be based on a truly collaborative approach, involving the pension fund throughout the various steps of the investment process.”

Ahold reported Net sales of €5.8 bn for the second quarter of 2008 down 0.8% from the same period last year.