Professional Services

PGGM enters Eur2.3bn risk-sharing deal with Banco Santander

Euros, PGGM Enters Eur2.3bn Risk-sharing Deal with Banco Santander - SantanderCB

Asset manager PGGM has entered a risk-sharing deal with Banco Santander related to a Eur2.3bn portfolio of small-business loans. PGGM said the deal, made on behalf of the Eur161bn healthcare pension fund PFZW, provides access to a credit-risk portfolio, further diversifying the scheme's asset mix. It added that the agreement – involving over 6,000 loans to Santander's Spanish clients – would generate a 'stable and robust' return. Mascha Canio, PGGM's head of credit and insurance-linked investments, said the Santander deal showed how a pension fund could co-operate with banks to stimulate SME investment.


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