APG to build in-house secondaries team

The Dutch asset manager's new unit will be led by Abraham Tiamiyu, a portfolio manager and former associate at Pomona Capital.

APG, the asset management subsidiary of the Netherlands’ largest pension fund, is building an in-house secondaries team.

The team is based in New York and led by private equity portfolio manager Abraham Tiamiyu, a spokesman told sister publication Secondaries Investor.

Tiamiyu has been with APG’s fund investments team since 2013, according to his LinkedIn page. Before then he was an associate focused on secondaries and co-investments at Pomona Capital. He began his career as an analyst in the secondary advisory group at UBS.

On 4 June William Wang joined the team after a four-year stint at secondaries firm Willowridge Partners, where he was an associate, the spokesman said. Tiamiyu reports to head of fund investing Greg Jania.

News of the secondaries team’s formation was first broken by Pensions & Investments.

APG, which invests on behalf of Dutch public pension fund ABP, has €470 billion in assets under management and invests on behalf of around 4.5 million Dutch pensionholders, according to its 2017 annual report.

The firm has been an active buyside participant in the infrastructure secondaries market. In December it partnered with insurer AXA to acquire a €1.1 billion infrastructure portfolio from Ardian’s 2006-vintage fund. In July it picked up a portfolio of 48 assets from Dutch infrastructure manager DIF.

In March 2016 it emerged as lead investor in the restructuring of Arcus’s 2007-vintage fund in a deal valued at up to €800m, Secondaries Investor revealed.

The firm currently has €21.4 billion invested in private equity, equivalent to 4.5 percent of total assets, according to PEI data.