Horeca & Catering Pension Fund

Horeca & Catering Pension Fund

The Horeca & Catering Pension Fund (PH&C) was established in 1963 as the industry-wide pension scheme for Dutch hospitality, serving workers in hotels, restaurants, and catering. Paul Braams serves as Managing Director, with Bas van Ooijen leading the investment team. The fund is a significant institutional allocator in the Netherlands, operating from Zoetermeer. PH&C pursues a diversified, multi-asset strategy built primarily around external manager relationships. The private equity book is a mix of buyout and growth equity funds, alongside a dedicated real estate portfolio with global reach. The fund has also committed directly to sustainable infrastructure projects across Europe — a sleeve increasingly central to its responsible-investment platform. While the fund does not publish a current AUM, Altss estimates roughly $16.1B in total assets, placing it among the larger Dutch industry-wide pension funds. Since at least 2024, the fund has maintained active memberships in several Dutch and global stewardship bodies. PH&C participates in the VBDO benchmarks for responsible investment and is a signatory to the Paris Pledge for Action. The team also holds membership in the Pensioenfederatie, the Dutch Federation of Pension Funds. The fund's governing board includes an Investment Commission member, Anne Kock, providing oversight on strategic allocation. The fund operates as a mandate-driven institutional allocator, not a direct-investment principal. Its deal flow is shaped almost entirely by fund selection and co-investment access gained through GP relationships. This structure mirrors the classic Dutch pension model — separating actuarial pension provision from active investment management, with most capital deployed through a roster of external managers rather than an internal trading desk.