The £35bn ACCESS Pool has announced plans to expand its private markets investment programme by appointing two private equity managers.
This initiative forms the third phase of its ongoing strategy to diversify into private markets, which has already incorporated infrastructure and real estate investments.
The new managers will run a multi-vintage investment programme, allowing participating authorities to commit funds to various investment opportunities annually throughout the mandate’s duration. These opportunities will span primary funds, secondary funds, and co-investments on a global scale.
For the initial five years, each manager is expected to handle annual commitments totalling around £500m, potentially accumulating assets between £4 to £6bn over time depending on growth and allocation adjustments by individual authorities.
Interested parties are invited to submit their proposals through a two-stage restricted tender process, with submissions due by 14:00 BST on May 24, 2024. The full requirements and tender specifications are available through Hampshire County Council’s instance of the In-Tend e-procurement platform, as detailed in the Invitation to Tender (ITT) documents.
This expansion follows the appointment of Apex Investment Advisory in January 2022, which now assists ACCESS in selecting investment opportunities and managers for its range of illiquid assets. Apex’s role is pivotal in steering the strategic inclusion of asset classes such as private equity and debt, further enhancing the portfolio diversity.
The ACCESS Pool represents a collaborative effort among 11 Local Government Pension Scheme (LGPS) Administering Authorities from Central, Eastern, and Southern England, all committed to leveraging collective benefits and efficiencies in line with government mandates for asset pooling. This approach not only aims to maximise returns but also increases operational efficiencies across the participating pension funds.
—————
FREE bi-weekly newsletters
Subscribe to Room151 Newsletters
Follow us on LinkedIn
Follow us here
Monthly Online Treasury Briefing
Sign up here with a .gov.uk email address
Room151 Webinars
Visit the Room151 channel
