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Jeroen Tielman by Beverly Chandler, Opalesque London:

By the end of this year, the Netherlands based hedge fund seeding platform IMQubator will be fully invested across 10 fledgling funds according to Jeroen Tielman, the CEO of IMQ Investment Management B.V. and IMQubator’s founder.

Founded in May 2009 the platform is backed by APG, the operational arm of APB, the €270bn ($383bn) pension fund for the civil service in the Netherlands. "Their investment in the seeding platform was conditional on my setting up a strong team" says Tielman. At the time, APG already had an exposure to hedge funds and wanted an exposure to emerging managers for diversification and to add another dimension to their alternatives investments.

With the benefit of hindsight, IMQubator’s 2009 launch was an interesting time to launch. "In general because of the market turmoils, pension funds have been concentrating on issues likes managing the volatility of the coverage ratio" explains Tielman. "Since our launch pension funds in general have been focussing on these issues more than anything else."

IMQubator started with a €250m ($354m) pot of money and a determined policy about how it would be invested. They currently have eight commitments having used up €200m ($283m) of the €250m and by the year end they plan to have invested the whole pot. Picking who gets the money has meant weeding out a patch that has grown up with three to four applications a week.

"Right at the beginning, the applications c......................

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