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.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers