Evolving PGGM Investment Management towards impact-investing
PGGM Investment Management with €230B assets under management is the pension investor for the healthcare sector. Based on the new investment beliefs of their client they formulated together with this client the strategy to fundamentally shift from 2D investment management (optimizing risk & return) to 3D investment management (risk, return, and impact). PGGM IM realizes that the existing operating model does not support this ambition, especially in a rapidly changing landscape with high volatility and ever-evolving industry standards. Therefore, PGGM IM engaged SparkOptimus to design and ignite a transformation of its operating model, aiming to become a highly adaptable organization with ESG fully ingrained in its investment processes and portfolio.
SparkOptimus has been a phenomenal partner that guided us towards becoming a future-fit organization. On top, they were a pleasant partner to work with that radiates energy, vision, and a clear ‘getting-it-done’ mentality.
We followed a dual approach that combined the strategic design of the to-be operating model with a parallel pilot in one of the investment management teams for real-life validation of core components. The focus was on developing the organization's ability to quickly and safely adapt by building a 'change muscle' that enables the organization to identify and respond to new transition themes at high speed. In shaping the to-be operating model, SparkOptimus addressed three main dimensions - ways of working, governance & steering, and organizational structure. The parallel pilot helped stress-test critical design components and bring the to-be operating model to life for operational teams, adjacent colleagues, and senior management. SparkOptimus co-shaped PGGM IM's to-be operating model, which included specifying test-and-learn ways of working, designing cross-functional collaboration models, future governance structures, and detailed the scaling approach.
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Through this collaboration, SparkOptimus designed a compelling 'North Star' for PGGM IM's future operating model, shaped the overall transformation approach, and helped kickstart the transformation with a successful first pilot. By doing so, SparkOptimus helped PGGM IM strengthen its change muscle and empowered cross-functional teams to react quickly in a rapidly changing environment, recognizing that the end-state operating model design will take time to achieve. The transformation program is now fully handed over to internal PGGM teams, while the successful pilot is being scaled rapidly towards adjacent Investment teams. The corresponding technology and data foundations are also being established for larger-scale implementation.
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