LGPS pool Border to Coast has secured its first permanent chief investment officer, appointing Daniel Booth to the role.
Booth joins the organisation after serving eight years as head of portfolio management at energy giant Saudi Aramco.
He brings with him experience of investing large corporate pension, insurance and endowment portfolios, all of which were invested globally across the full range of asset classes.
Rachel Elwell, chief executive of the pool, said: “Daniel brings a strong understanding of the investment world, and in particular in private markets, an area of focus for us, together with hands-on experience of building an investment function for a long-term asset owner in his previous role.”
Before joining Saudi Aramco in 2010, Daniel was based in Frankfurt, Germany, and was head of alternative asset research at asset manager Prime Capital, responsible for establishing the alternative asset investment platform.
Prior to that, he worked as an investment director with asset manager FERI’s alternatives division.
Booth said: “The UK pension pooling agenda will allow our partner funds to compete with the most sophisticated global investors and maximise their future risk-adjusted investment returns.”
The new appointee will work with interim CIO John Harrison, who has kept the seat warm since January this year, during a handover period.
Last month the pool launched its first two sub-funds with £7bn of assets from three partner councils.
The next stage of development includes building external management and alternatives capabilities, Border to Coast said in a statement.
Border to Coast is set to be one of the largest pools, with its 12 member funds responsible for assets worth £46bn.
Separately, Brunel Pension Partnership has appointed Hermes Equity Ownership Services (EOS) to assist with its voting and engagement.
