DENMARK - The private equity arm of pension fund ATP has launched a new €1bn ($1.3bn) fund backed fully by the pension scheme.
The ATP PEP IV fund will target 20-25 investments mainly in buyout and growth capital funds, with the rest targeting secondary, distressed and venture funds. The typical commitment will total €50m. Geographically, the fund will focus up to 90% on Europe and the US.
ATP Private Equity Partners manages €6.9bn including the PEP IV fund.
The Pensions Regulator (TPR) has granted 11 master trusts extensions to apply for authorisation, as it confirms it has received 22 applications ahead of the 31 March deadline.
Aegon Master Trust, Fidelity Master Trust and Ensign have sent off their authorisation applications to The Pensions Regulator (TPR).
Self-administered pension funds spent £15bn on payments to pensioners in Q4 2018, but received just £12bn in contributions (net of refunds), Office for National Statistics (ONS) data reveals.
Aberdeen Standard Investments (ASI) and Gresham House are to team up to form a joint venture.