PGGM, the in-house investment manager for one of the Netherlands’ biggest pension funds, has struck its largest deal since the launch of its private equity team four years ago, and is planning more big deals.

The firm is part of a consortium of investors that has agreed to buy fleet management company LeasePlan Corporation from a joint venture between automobile company Volkswagen and investment company Fleet Investments for about €3.7 billion, according to a statement on July 23.