Stibbe advises Blackrock on its appointment as OCIO of the EUR 27bn pension plan of Stichting Shell Pensioenfonds
A Stibbe team co-led by Roderik Vrolijk and Ingrid Viertelhauzen has advised Blackrock on its appointment as fiduciary manager and outsourced Chief Investment Officer of Stichting Shell Pensioenfonds. Stibbe acted as co-counsel with Herbert Smith Freehills on this matter.
Globally, BlackRock is one of the largest asset managers, and the contract with Stichting Shell Pensioenfonds marks an important milestone in securing its position as one of the prime asset managers in the Dutch pension sector.
The appointment is also driven by the entry into force of the Dutch Future Pensions Act (Wet toekomst pensioenen, Wtp). The Wtp has a major impact on Dutch asset managers and Dutch pension funds (including Stichting Shell Pensioenfonds and its 30,000+ participants).
The first step in the process involves transferring the assets to BlackRock, which is expected to be completed by mid 2025.
