The UK's Post Office Pension Fund is set to give Pantheon Ventures a £100m mandate as its fourth manager of its private equity portfolio.
Pantheon will be joining US private equity managers Hamilton Lane and Partners Group which will each be managing £100m on a fund-of-fund basis. Hermes Pensions Management also has a £200m private equity mandate.
The £18bn fund has allocated 3% (£500m) of its value to this alternative investment class.
The Post Office Pension Fund is invested in UK equities (50%); non-UK equities (28%); alternative investments (3%); property (8%); and bonds (12%).
The consultant for the investment of the fund’s private equity mandate is Campbell Lutyens.
By Janet Du Chenne
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.