Zeist, 18 January 2007. PGGM, Dutch pension fund for the
healthcare and social work sector, has entered into a comprehensive
relationship with Albright Capital Management, LLC ("Albright
Capital") for a long term, multi-asset class, investment
in emerging markets. PGGM, as Albright Capital’s Strategic
Investor, will invest $329 million (€250 million) with
an absolute return objective.
Albright Capital, with former U.S. Secretary of State Madeleine
Albright as Chair, is an investment adviser, registered with
the U.S. Securities and Exchange Commission. Albright Capital
integrates a team of seasoned and accomplished investment
professionals, led by Gregory Bowes and John Yonemoto, with
the principals of The Albright Group, LLC ("The Albright
Group"), a global strategy firm. This pioneering structure
enables it to assess and manage the full range of complex
risks, financial and non-financial, presented by the emerging
markets, especially frontier markets.
Secretary Albright said, "Identification of common goals
was a prominent factor behind our desire for PGGM to act as
Strategic Investor. PGGM and Albright Capital believe that
integrating global citizenship, good corporate governance,
socially responsible policies, and transparency into a comprehensive
emerging markets investment program will improve results."
Else Bos, CEO Investments of PGGM says: "Albright Capital
offers a unique way to integrate expertise in international
affairs with investment professionalism. This will be particularly
powerful in emerging markets, but we do expect the strategic
relationship with Albright Capital to be of value for other
investments of PGGM as well." Jelle Beenen, Head of Alternative
Beta at PGGM adds: "The strategic relationship with Albright
Capital reflects PGGM’s commitment to innovation and
fits squarely within our Portfolio of Strategies."
PGGM’s Portfolio of Strategies is designed to identify
and invest in new structural opportunities from non-traditional
sources across the risk/return spectrum, that capitalize on
PGGM’s strengths. The portfolio should achieve absolute
returns with a low correlation to its other investments.
The Albright Group was founded in 2001 by Secretary Albright,
former head of the US Environmental Protection Agency Carol
Browner, and former senior U.S. State Department officials
Ambassador Wendy Sherman, James O’Brien, and Suzanne
George. They continue to advise clients, in all major emerging
market regions, in sectors including energy, environmental
protection, healthcare, water, agriculture, consumer products,
information technology, metals, and emergency response.
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