Contents


12 20


Private credit Cautious banks have opened the door for pension schemes to finance economies, but what do institutional investors need to know about direct lending?


30 Executive pay


Can investors phase out inequality while retain- ing the talent at the top of the companies in their portfolios?


ESG interview: Institutional Investors


Group on Climate Change Head of investor practices Mahesh Roy discusses his concerns about the fight against climate change.


Interview: Border to Coast New chief investment officer Joe McDonnell explains why he joined the pool, what his plans are and why he wants to work with people who think differently.


26


34


Discussion: DC multi asset Conventional investment theory was challenged last year, so how are DC schemes preparing their portfolios against further volatility? We sat down with a group of insiders to find out.


42 Germany


A review of the conference and awards hosted by our sister publication looking at the insti- tutional market in Germany.


Infrastructure


Decarbonisation, digitalisation and urbanisation make infrastructure appealing to long-term investors, so why are allocations so low?


46


6 News 8 Noticeboard


9 The Big Picture 10 Industry view


25 ESG News 50 The final countdown


Issue 126 | September 2023 | portfolio institutional | 5


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