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Giant Dutch pension fills out New York private equity senior team

APG Asset Management, the New York-based investment group of the huge Dutch pension administrator, has rounded out its senior investment team with the recent hire of Michael Dymond as a senior portfolio manager, according to a spokesperson.

Dymond joined APG Asset Management in September, according to his LinkedIn profile. He was formerly a senior investment manager of private markets at the Universities Superannuation Scheme. Dymond also worked as a senior associate at PineBridge Investments from 2007 to 2010, according to his profile. Dymond could not be reached for comment.

With the hiring of Dymond, APG, which manages about €337 billion (as of September), has filled out the senior investment levels of its New York-based private equity group, the spokesperson said. The group still plans on hiring some junior level employees, the spokesperson said.

APG started building the group after it decided, along with fellow Dutch pension administrator PGGM, to sell its stake in fund of funds AlpInvest Partners to The Carlyle Group in 2011.

Both APG and PGGM agreed to ongoing commitments to AlpInvest of €10 billion each until 2015, but both also began building up their in-house private equity capabilities.

APG has already exceeded the amount it pledged to AlpInvest.

APG Asset Management is led by Iain Leigh, a former AlpInvest executive. Earlier this year, the team hired Greg Jania, an executive with WP Global Partners, to head up private equity investments. APG Asset Management also recently brought on Megan Bethke as a senior portfolio manager in private equity.

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