PGGM Names Private Markets CIO

The $225 billion Dutch pension has promoted Frank van Lennep to the role vacated by Ruulke Bagijn.

frank roeters van lennep pggmFrank Roeters van LennepPGGM has appointed infrastructure head Frank Roeters van Lennep as private markets CIO, the Dutch pension manager announced Thursday.

Van Lennep, who first joined PGGM in 2014, fills the role vacated by Ruulke Bagijn, who departed earlier this year to join AXA Investment Managers in Paris.

“Ruulke has been a prominent colleague and representative of PGGM,” said CIO Eloy Lindeijer in announcing her departure. “She has led the expansion of our private markets platform, which offers clients access to investments in private equity, infrastructure, real estate, and other non-listed assets.”

In addition to his new role, van Lennep will continue to lead the €200.2 billion ($225 billion) fund’s €7.5 billion in infrastructure investments until PGGM has found a successor.

Previously, he was a partner at KPMG focusing on debt advisory and infrastructure activities. He has also served as a manager responsible for structured finance investments at APG (then called ABP).

Van Lennep holds master’s degrees in business administration and monetary economics from INSEAD and Erasmus University Rotterdam.

Related: PGGM Loses Private Markets CIO