Pensioenfonds Horeca & Catering, the €2bn ($2.3bn) Netherlands scheme for the hotel and catering industry, has awarded two private equity mandates worth €100m in a bid to diversify its investment portfolio.

It has split the mandate equally between Goldman Sachs Private Equity Group, part of Goldman Sachs Asset Management, and HarbourVest Partners, one of the world's largest private equity fund of fund managers.