Border to Coast allocates to private equity

Border to Coast has committed over £370 million in five new private equity funds as it continues to provide new investment opportunities for its local government pension scheme partners.

The five new investments form part of its second private equity offering, which received £485 million of commitments from eight of its 11 partner funds in April 2020 – 75% of which is now committed.

The commitments include a $100 million allocation to sector specialist buyout manager Thoma Bravo Fund XIV and $125 million to AlpInvest Co-Investment Fund VIII, which pursues a global co-investment strategy focused on buyout and growth capital transactions.

These commitments provide exposure to several of Border to Coast’s targeted themes within private equity including Operational Value Add, Buy and Build, Mid-market, Healthcare, Technology, Asia, Distressed and Co-Investments.

Mark Lyon, Head of Internal Management at Border to Coast said: “Private equity is an important asset class for our partner funds, providing a differentiated risk and return profile relative to public equity markets.”

“With our experienced in-house team, we have been able to generate meaningful fee savings for our partner funds while accessing high-quality investment opportunities with capacity-constrained managers,” he added.