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.
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