RPMI Railpen use PiP for inflation-linked infra debt

December, 2016 Print

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The industrywide pension fund for the UK’s railways, RPMI Railpen, has worked with the Pensions Infrastructure Platform (PiP) to set up a £20.3 million investment in inflation-linked debt capital, which will refinance a portfolio of rooftop solar assets distributed across England and Wales.

PiP chief executive, Mike Weston, said: “This is a real example of the power of the PiP platform. A UK pension scheme has been able to utilise the platform structure and expertise they helped build at PiP to access a proprietory infrastructure investment opportunity that is a great fit with their scheme-specific investment strategy.” RPMI Railpen chief executive, Chris Hitchen, added: “This debt investment will deliver exactly the secure, long-term, inflation-linked cash flows that will help the railways pension schemes achieve our mission to pay members’ pensions securely, affordably and sustainably. As a founding investor of PiP, we are delighted it has developed the capabilities to effectively source and execute transactions such as this – a key objective of our support for its original establishment.”

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