APG is the launching customer of LIST Amsterdam. An independent online platform to provide long-term loans to housing associations, without the intervention of banks. Via the new platform housing associations are connected directly with institutional investors in the Netherlands. APG has teamed up with a number of housing associations and approached LIST Amsterdam to set up the platform.
The initiative fits to the ambition of ABP and other pension fund clients of APG to invest more in the Netherlands if possible. APG invests through the platform on behalf of ABP, bpfBOUW, pension fund for the housing associations SPW and its own personnel pension fund PPF APG. Recently, the first loan to a housing association was successfully closed and another one is planned.
Housing corporations are building tens of thousands of new social homes in the coming years. Also, more than two million homes owned by corporations need to be made more sustainable. This requires an additional financing of sustainable loans of around 100 billion euros until 2050.
Sandor Steverink, Manager Treasuries & Inflation Linked Debt at APG: "Given their ambition, housing associations are in great need for alternative providers of capital. At the same time, we at APG are interested to provide long-term loans because they deliver stable and reliable returns for our pension fund clients."
After the first successful issuances, the platform will be opened to other institutional investors.
Sandor: "With this initiative we set up a transparent and simple platform where supply and demand of these types of loans can quickly find each other. As a result, housing associations have easier and cheaper access to finance. In addition, APG can realize a slightly higher return on investments for its pension fund clients, compared to Dutch state loans. "
The loans on LIST Amsterdam are being guaranteed through the ‘Social housing guarantee fund’ (WSW). In the coming years, there is enough capital available for long-term loans via the new platform.