PGGM has appointed Erik van de Brake as head of infrastructure, filling a position vacant since September.
Van de Brake is no stranger to the €200 billion pension, having been a senior infrastructure investment manager since 2014. He was previously at Dutch lender Rabobank, serving in positions including head of project equity and head of project finance over the course of 20 years.
He will replace Frank Roeters van Lennep, who became chief investment officer for private markets two months ago after less than two years in the role. His promotion was prompted by the departure of Ruulke Bagijn, who left PGGM in May to take up a newly created role as global head of real assets private equity at AXA Investment Managers – Real Assets.
PGGM invests on behalf of five pension funds, including PfZW, the Dutch pension fund for healthcare and social services workers. It manages about €7.5 billion of infrastructure assets.
Its latest headline deal dates back to November 2015, when it acquired Globalvia Infraestructuras from Spanish lender Bankia and Barcelona-based FCC alongside Canada’s OPSEU Pension Trust and the UK’s Universities Superannuation Scheme for up to €420 million.