- Pensioenfonds PNO Media has selected Van Lanschot Kempen Investment Management to manage an active sustainable European small-cap mandate, with an initial value of €195m. The active strategy selects high-quality, listed small-cap businesses with attractive valuations, sustainable characteristics, long-term competitive advantages, and strong management teams. The aim is to achieve long-term capital growth.


Commenting, Pensioenfonds PNO Media executive director, Erik Hulshof, said: “After an extensive selection process, we have chosen Van Lanschot Kempen’s sustainable European small-cap strategy. Throughout our discussions, we were consistently impressed by the fund managers’ knowledge of the Dutch pensions landscape and the European small-cap sector, their long-term track record, and their integrated approach to sustainability within the investment policy. This aligns with the (sustainability) objectives of our pension fund. We look forward to the collaboration.”

- Legal and General (L&G) has funded an £85m investment with Anchor to primarily fund the development of affordable energy-efficient homes.

The transaction follows the launch of the L&G Affordable Housing Fund in July 2024, and builds on prior funding to Anchor completed in February of this year, bringing L&G’s total private credit investment in Anchor to £100m. The investment was structured as a 15-year bullet senior secured note as part of a £100m bilateral L&G shelf facility, which following this latest investment has now been fully drawn. In particular, the money will be used to build at least 500 homes a year over a rolling 10-year period. The investment was on behalf of L&G Institutional Retirement.

- Germany’s Federal Financial Supervisory Authority, BaFin, has given its approval to the planned merger of Barmenia and Gothaer to form BarmeniaGothaer.

BarmeniaGothaer will be a new top 10 insurer with a premium volume of around €8bn, 7,500 employees, and €50bn in capital investments. Commenting, Gothaer CEO, Oliver Schoeller, said: "We are looking forward to our shared future. Now we need to use the enormous potential that our combined strengths offer to build a company with a shared culture and vision."

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