Clara appoints Kempen as its fiduciary manager

Move come as consolidator prepares to conduct first transactions

Jonathan Stapleton
clock • 2 min read

Clara has appointed Kempen Capital Management as its fiduciary manager in a further move to ready itself to complete its first transactions.

The consolidator said Kempen will implement a joint investment strategy on behalf of both Clara and the Clara Pension Trust.

The selection process was supported by Lane Clark & Peacock partners Dan Mikulskis and Rob Guthrie and comes as Clara prepares to conduct its first transactions once it has completed its regulatory assessment.

Frank Oldham, a professional trustee at Independent Trustee Services and a director of the Clara Pension Trust, said: "The robust and challenging selection process saw impressive pitches from a number of providers. However, Kempen clearly demonstrated their understanding of what Clara is seeking to achieve and how they could support us.

"Our role is to ensure that members receive their promised pensions. We want our members to be confident that Clara works in their interests and that they are on a smooth journey to buyout. Ensuring our assets are properly managed to achieve that is paramount."

Clara chief executive Adam Saron added: "A consolidator's covenant is a combination of its capital and its investment strategy. Kempen's scale and expertise will support our investment decision making but also provide additional strength governance and independence in investment implementation. Members can be confident in the and consistency of Clara's covenant."

Established in 1903, Kempen operates in the UK, the Netherlands and France. It has played a role in the consolidation of Dutch pension schemes and has managed fiduciary mandates in the UK since 2015.

In a joint statement, Kempen UK managing director Andre Keijsers and head of business development Nicholas Clapp said the appointment marked the beginning of a "partnership with a firm focus on the future".

They said: "From day one, we have been impressed with what Clara are trying to achieve and the member first approach resonated with our approach and culture."

Keijsers and Clapp added: "We consider this a true partnership, that will leverage our extensive experience in pension consolidation."

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