The Wales Pension Partnership (WPP) has announced its latest appointment to its Pooled Private Markets investment solutions.
Schroders Capital will develop the WPP pooled private equity investment programme for its constituent authorities.
While private equity has been a holding for LGPS funds for many years, challenges of access, cost and governance have been considerable for single pension fund investors until they have achieved some scale. They will now have more efficient and effective access to this illiquid asset class.
Chris Moore, director of corporate services at Carmarthenshire County Council (host authority for the WPP) said: “Private equity has been an important holding for the WPP constituent authorities, but has historically been challenging to access in a cost effective manner.
“Pooling offers the opportunity to address this. We look forward to working with our newly appointed partners to meet this challenge and deliver efficient, effective and impactful private equity investment for the long term.”
The procurement process run by the WPP was assisted by investment consultancy bfinance.