State Street Global Advisors of Boston has announced that it has set up a joint venture company with ABP, a Dutch pension fund, to invest in innovative investment management start-up companies.
The new company, State Street Global Alliance LLC, will give ABP access to a number of "top-performing, highly-focused players" in pension fund management, according to Jean Frijns, chief investment officer of ABP Investments of Amsterdam, which manages ABP's assets.
ABP is a minority investment partner in the deal. ABP will use State Street Global Advisors' managers for some ABP funds and will collaborate on research and product development, according to SSgA.
State Street Global Alliance's main focus will be investing in new asset management firms that share State Street Global Advisors' investment strategies, according to SSgA.