Noticeboard PEOPLE MOVES


LGPS Central, which manages £20bn for eight local government pension schemes in the Midlands, has appointed Ian Brown as its head of private markets. Brown (pictured) takes charge of the pool’s pri- vate equity, property and infrastructure teams having spent more than


30 years funding such transactions. He joins from Lloyds Bank, where he was head of loan financing. LGPS Central is not the only local govern- ment pool that has been recruiting in the past month. The investment arm of Local Pensions Partnership (LPP) has welcomed Dev Jadeja as its head of investment due diligence.


In this newly created


role, Jadeja (pictured) will pick and monitor external fund managers. He brings 15 years of


manager research to the pool and was until recently deputy lead for manager research at Cardano Risk Management. The appointment is part of the next phase of the pool’s development where it seeks to become more self-sufficient and exceed agreed investment returns.


NOTICEBOARD


Border to Coast, which manages assets for 11 local government pension schemes, is to strengthen its private equity portfolio after raising £485m from eight of its part- ner funds.


The capital will be invested globally by the end of March 2021 and is part of the pool’s strategy to diversify its sources of return. This follows a previous private equity funding round led by the pool worth £500m, which has been invested in nine private equity funds. Border to Coast has also awarded four multi-asset credit mandates collectively


10 | portfolio institutional October 2020 | issue 97


RPMI Railpen, which manages £30bn of assets for the railway workers pension scheme, has appointed Martin Hunter as a pensions policy actuary. He joins from XPS Pensions, ending 16 years of service at the consultancy. Hunter (pictured) will help align the trustee board and the sponsors on issues such as fund- ing as well as developing


the fiduciary team. Scottish Widows Master Trust has given a seat on its board to communications and engagement specialist Cheryl Black. Black (pictured) brings 25 years of customer-facing experience at Scottish Water, Orange and O2 to the master trust.


This is the latest in a line of appointments for the master trust after David Butcher and Gerald Wellesley took seats on the board in September.


Independent trustee provider PTL has strengthened its service by unveiling Lou- isa Harrold as its fourth new client direc- tor this year. Harrold joins from Atkins, where she was pensions operations manager overseeing billions of pounds in assets. Her previous roles include working on local govern-


worth £2.7bn. The pool considered pro- posals from more than 100 firms before choosing Wellington Management to focus on global high yield, Barings to manage a portfolio of global syndicated loans, PGIM to handle securitised credit and Ashmore to look at emerging market debt. The fund, which will launch in the first half of next year if cleared by the regulator, targets SONIA +3% to 4% over five years. The new fund sits with a multi-asset credit mandate led by PIMCO and an internally managed emerging market debt sleeve. The new fund will comple- ment the pool’s other private credit inter- ests, which include index-linked bond


CALENDAR Upcoming


portfolio institutional roundtables:


November Emerging market debt


December – January Outlook 2021


February LGPS pools


ment schemes and the Railways Pension Scheme as well as advising trustees for 16 years at Mercer. Rival firm Dalriada Trustees has also strengthened its services by appointing Keith Hinds as a professional trustee. Hinds (pictured) quit as head of pensions advisory at Grant Thorn- ton to take the role and brings 35 years of pen-


sions and restructuring experience to the independent professional trustee services provider. Finally, James Pearce has joined The Pen- sion SuperFund as chief financial officer. Pearce takes up his new position after quitting Just, where he was director of finance. He


also has positions at JP Morgan Cazenove and UBS on his CV.


and investment-grade debt funds. The plan is to give the pool exposure to the full spectrum of the credit markets. The Civil


Aviation Authority Pension


Scheme has appointed BlackRock as the fiduciary manager for its £4bn growth portfolios. BlackRock is now responsible for asset allocation and manager selection for the portfolios, which help fund the retire- ments of Civil Aviation Authority and National Air Traffic Service’s employees. British Patient Capital has invested £20m in Kindred Capital’s second fund. The £81m fund focuses on founder-led, high conviction investments.


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