Robeco Group was started in 1929 and today is one of Europe's leading investment companies, with $212 billion (as of March 2011) under management. It is owned by AAA-rated Rabobank. Robeco recently launched a private equity fund of funds targeting responsible investments. The fund has a target of 250 million euro. The investment portfolio of the Fund will be diversified across 20-30 private equity funds. The Fund will also be diversified by geography, investment stage, industry sector, companies and vintage years. The responsible investment strategy will be centered around engagement, through which private equity funds managers are stimulated to improve the Environmental, Social and Governance performance of their portfolio companies. It is the successor to the 200M Euro 2004 Robeco Sustainable Private Equity fund.