Several of the pension funds in the Netherlands have no either directly or via banks (e.g. Rabobank) entered the SME space, next to that they buy RMBS and Corporate Bonds, so are already a big direct and indirect lender...
Detailhandel, the €18bn pension fund for the Dutch retail sector, is to issue loans to small and medium-sized enterprises (SMEs) that are still struggling to get bank financing. According to local news daily Het Financieele Dagblad (FD), the loans – ranging from €250,000 to €1m – are to be issued through the SME Impuls Fund, which will be placed in a foundation managed by Utrecht-based financial service provider Finance Ideas Management. Neos Business Finance will provide credit ratings. Detailhandel has committed €40m to the venture but expects to increase the allocation to €100m next year, the FD said.
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