UK - The Railways Pension Scheme has invested £53m in Asian private equity to complete a drive towards geographical diversification.
Pantheon Ventures will run a £34.6m mandate with HSBC Private Equity Asia managing £18.6m. This is the first time the £13.5bn scheme has invested in Asia on the private equity side.
Railways Pension Trustee Company chief executive and Railpen Investments chairman Peter Murray said the mandates were part of a drive towards greater diversification.
“One part of the world in which we were not committed was Asia and we saw no good reason to leave it out. Our in-house investment team advised on the mandate appointments.”
The scheme is just under halfway towards achieving its £750m target of investment in private equity. It hopes to meet the target in three to five years.
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