BlackRock has been selected as the preferred candidate for a fiduciary management mandate worth nearly €70 billion ($80 billion) by BpfBOUW, the pension fund for the Dutch construction sector. The selection follows a competitive process initiated after BpfBOUW's current manager, APG, decided to cease serving external clients.
The Dutch pension fund cited BlackRock's international scale, extensive investment expertise, and technological capabilities as key reasons for the choice. BpfBOUW also highlighted an alignment on socially responsible investing, pointing to BlackRock's available ESG data and analytical capacity. The appointment is still subject to the finalization and signing of contracts.