PGGM puts brakes on Asian property investment

Netherlands-based pension fund PGGM is slowing the pace of its Asian property allocations as part of a worldwide brake on new investments in its €18 billion ($19.07 billion) global property portfolio. Maarten Jennen, a senior director and strategist for private real estate at PGGM Investments, the investment management arm of the €277 billion fund, told AsianInvestor that the need to rebalance its portfolio following falls in its equity and fixed-income portfolios last year, in ad…