Marktlink Capital says pension funds ramp up defence, cybersecurity investment as NATO targets 5% of GDP
XLI•Marktlink Capital said institutional investment in defence and cybersecurity is accelerating as NATO members target spending 5% of GDP on defence, security and infrastructure. Holdings by seven Dutch insurers, pension funds and asset managers rose to EUR 2.71 billion in 2026 from EUR 1.07 billion in 2024, with 60% of the increase attributed to valuation gains.
1. Holdings increase
Marktlink Capital Management Cooperatief UA flagged accelerating institutional investment in defence and cybersecurity, citing geopolitical shifts and policy changes. Holdings by seven Dutch insurers, pension funds and asset managers rose to EUR 2.71 billion in 2026 from EUR 1.07 billion in 2024.
2. NATO spending target
NATO members agreed in The Hague to target 5% of GDP for defence, cybersecurity and infrastructure. The agreement is expected to raise Dutch sector funding above EUR 40 billion by 2035. About 60% of the holdings increase reflected valuation gains, while 40% came from expanded positions.
3. Fund exposure
Marktlink Capital positioned its Defence & Security sector fund as a route to private equity exposure across Europe and North America.
