ABP's $2.8 Billion Investment in Dutch Mortgage Loans
AMSTERDAM (Reuters) - Dutch pension fund ABP on Monday said it had acquired a 2.7 billion euro ($2.84 billion) mortgage portfolio managed by Dutch lender NIBC.
ABP, the largest Dutch pension fund with around 530 billion euros in assets, said the mortgage loans had been granted in the past 5 years to around 10,000 households in the Netherlands.
The investment increases its total Dutch mortgage portfolio to over 7.3 billion euros.
"We like to invest in the Dutch mortgage market and this is a giant step forward," ABP Chairman Harmen van Wijnen said.
"It offers an attractive yield with a low risk (and) increases the financing possibilities for Dutch house buyers."
ABP bought the portfolio from an unnamed investor advised by Goldman Sachs, the fund said.
($1 = 0.9508 euros)
(Reporting by Bart Meijer; editing by Jason Neely)
