Pensioenfonds voor Gezondheidszorg Geestelijke en Maatschappelijke (PGGM), is the pension manager for the healthcare industry. It invests on behalf of its owner, Stichting Pensioenfonds Zorg en Welzijn (PFZW) and some others plans. PGGM is less than half the size of APG’s and all of its 1,500 professionals sit in Zeist, a small Dutch town of 65,000 inhabitants. Yet, it has tagged along APG to the international M&A scene and is often seen in high profile auctions. It is an important advocate for ESG investment globally.