Dutch pension fund manager Algemene Pensioen Groep (APG) has committed US$250-million of equity capital to resources group Pallinghurst for investments in mining, $200-million (about R1.4-billion) of which has been earmarked for South Africa.

The commitment is for up to 10 years, and will be made at the discretion of Pallinghurst Advisors.

As a first investment, APG will apply for a $50-million allotment in the upcoming equity placement by platinum producer Platmin - a Pallinghurst portfolio company that is listed on the JSE, the Toronto Stock Exchange and London's AIM alternative exchange.

"We are proud to welcome the distinguished asset manager APG as co-investor in Pallinghurst," Pallinghurst CEO Brian Gilbertson said in a statement this week. "We value APG's confidence in our project initiatives, and indeed in South Africa."

Pallinghurst's "steel-feed" platform is another likely core area of investment for the APG funds, as the global steel market races to secure raw material input.
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