UK - Royal London Private Equity has completed the initial closing on its first limited partnership fund with a value of over £64m.
RLPE is targeting companies valued between £25m and £75m in the financial services, leisure, information technology services and support services sectors.
RLPE chief executive David MacLellan said: “To have secured a first closing for our first fund with a backdrop of depressed stock markets, economic uncertainty and the war in Iraq is enormously encouraging and says a lot about the quality of the team at RLPE.”
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.