Noticeboard PEOPLE MOVES


Capital Cranfield has strengthened its team of independent trustees after Amanda Hamilton-Stanley joined the firm. A lawyer by training, she joins from wine and spirits company Pernod Ricard where her final role was general counsel and compliance officer. Hamilton-Stanley brings pensions experi- ence to the firm as she spent a decade as a trustee director of the Allied Domecq Pension Fund. It was here that she gained a wide skillset, which included working on a £3.8bn buy-in de-risking deal. Pension Insurance Corporation (PIC) has welcomed Julia Goh to its board as an independent non-executive director. She brings front office operational experi- ence earned at large financial institutions to the insurer of defined benefit pension schemes.


NOTICEBOARD


Border to Coast, a £55bn pool for 11 local government pension schemes, is to launch a £1.3bn listed alternatives fund. Scheduled for a launch in 2022, the fund will hold listed securities exposed to infra- structure,


specialist real estate, private


equity and alternative credit. This will complement the pool’s £5.7bn private markets strategy.


The investment strategy will focus on long-term structural themes, such as the green energy transition, data and urbani- sation. So, expect investments in clean energy generation and storage, data cen- tres, fibre optic cables, logistic hubs and healthcare infrastructure. Workplace pension scheme provider Nest has bought a solar power farm. The farm, which is in Reading, has 60,000 panels capable of powering more than 5,000 homes. The deal was completed in partnership with clean ener- gy-focused fund manager Octopus Renewables.


8 | portfolio institutional | November 2021 | issue 108


Goh has chief operating officer for global markets at Barclays’ investment bank on her CV along with global head of prime services risk at Credit Suisse. Finally, we end this round up on a sad note. Former co-chair of the Association of Member Nominated Trustees (AMNT) David Weeks has unfortunately lost his battle with cancer. Weeks (pictured) stood down from the AMNT in July to fight the illness. He was


CALENDAR


Forthcoming portfolio institutional roundtables: December


– Sustainable investing December


– Global equities


also director of governance, risk manage- ment and investment at the £200m Lovell Pension Scheme and has served as a non- executive director of the National Health Service.


The team here at portfolio institutional have fond memories of David as he sat at many of our roundtables and conference panels. His


enthusiasm and insight


always made him a welcome addition to these discussions and will be missed.


The size of the “multi-million deal” has not been disclosed, but Nest confirmed that it is one of the biggest it has made in the UK’s renewable energy sector. Elsewhere, a pension scheme for workers of a charity that supports deaf children has secured the benefits of more than 280 of its members after agreeing a multi-mil- lion-pound insurance deal. The Greater Manchester Pension Fund has awarded a £700m real estate mandate to Schroders Capital.


The firm will now manage a portfolio of directly owned assets, which include industrial, office and retail properties as well as hotels. John Townsend Trust closed the £30m transaction with Legal & General. The charity is insolvent and its retirement schemes have been under the manage- ment of the Pension Protection Fund (PPF) for six years.


This deal secures its members benefits at or above the level of compensation that would have been paid by the PPF. Legal & General has also agreed a £760m


buy-in with the pension scheme spon- sored by pharmaceutical giant Sanofi. The deal will secure the benefits of almost 3,000 of the company’s retired workers. The trustees of the Miracle Garden Care Pension Scheme have competed a bulk annuity deal with Just. The deal covers £49m of pensioner and deferred liabili- ties for more than 140 people. This a step along the scheme’s journey to be fully insured. Workplace pension scheme master trust TPT Retirement Solutions is to invest £54m in private equity. The mandate will be invested through its default target-date funds,


which AllianceBernstein.


The master trust is adopting this strategy as it believes the returns offered by private equity could be greater than those earned from the public markets over the long term.


The strategy will target listed private equi- ty assets, such as investment trusts, and the stock of private equity investment managers.


are managed by


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