# SPW

SPW is a Pension Fund based in Amsterdam, Netherlands.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Amsterdam, Netherlands
- **Region:** Europe
- **Address:** Basisweg 10, 1043 AP Amsterdam, Netherlands
- **Assets under management:** 16007 (Altss estimate)
- **Website:** www.spw.nl
- **LinkedIn:** https://www.linkedin.com/company/spwpensioen

## Regulatory record

- **Reports private funds:** No

## About

SPW operates as the pension vehicle for housing association staff in the Netherlands. No public founding date appears in available records. Governance ties link the fund to Aedes, the sector association, and to labor organizations De Unie and CNV Vakmensen that appoint board members. The fund targets a 4 percent long-term allocation to private equity while maintaining current exposure near 10 percent. Real estate forms a core sleeve through a €1.05 billion Dutch residential mandate overseen by ASR Real Assets Investment Partners and a €1 billion mortgage portfolio sourced via MUNT Hypotheken. Geographic reach stays inside the Netherlands for direct assets and extends to Europe through limited partnership interests in vehicles such as the AEW Europe Fund (2005) and Arcus Infrastructure Partners. Public equity positions include TSMC, Nintendo, Mitsubishi Estate, and ASML as of June 2025. Assets total $16 billion. The fund maintains memberships in Eumedion, AEIP, and the Principles for Responsible Investment. It participates in industry events including the October 2025 WorldPensionSummit where it addressed the transition to the new Dutch pension system (Wtp). Service providers include Van Lanschot Kempen as fiduciary manager and APG for asset management and administration during a transition period ending in 2030. SPW functions under a paritarian governance model in which employer and employee representatives share board oversight through Aedes and the named unions. This structure separates investment execution from the underlying housing associations while embedding sector-specific accountability directly into decision-making.

## Sectors

- Real Estate
- Private Equity
- Infrastructure

## People

- Henk Jagersma — Chairman of the Board

## Questions

### Who runs investment decisions at SPW?

Henk Jagersma serves as Chairman of the Board. Day-to-day asset management is delegated to external providers including Van Lanschot Kempen and APG.

### Does SPW participate in fund commitments or only direct deals?

The fund holds both limited partnership interests in external vehicles and direct mandates such as the Dutch residential real estate portfolio.

### What asset classes receive the largest allocations?

Real estate and mortgages represent major direct holdings. Private equity carries a 10 percent current allocation against a 4 percent target.

### Which service providers support SPW operations?

Van Lanschot Kempen acts as fiduciary manager. APG provides asset management and administration. ASR Real Assets Investment Partners oversees the residential real estate mandate.

### How is SPW governed relative to the housing associations it serves?

Board appointments come from Aedes, De Unie, and CNV Vakmensen. This paritarian structure links the fund to the sector while maintaining separate investment execution.

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- [Horeca & Catering Pension Fund](https://altss.com/profile/horeca-catering-pension-fund)
- [BOC Life](https://altss.com/profile/boc-life-bank-of-china-group-life-assurance-company-bocl)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/spw

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology