Tesco Pension Fund joins Pensions Infrastructure Platform (PIP)
Ruston Smith, Tesco's group pensions director, has announced that Tesco's pension fund has invested in the U.K.'s Pensions Infrastructure Platform (PIP).
Mr. Smith announced the investment on 11 March 2015 at the National Association of Pension Funds annual investment conference, held in Edinburgh, Scotland. The total amount invested has not been disclosed. He stated:
"I'm pleased to say that my scheme has become the latest pension fund to become an investor in the PIP."
PIP currently has about £330 million (US$486.3 million) in assets under management, of which £255 million (US$375.8 million) are invested in public private partnership (PPP) projects. The platform is managed by Dalmore Capital, an independent fund management company.
The PIP was launched with a target of raising £2 billion in 2011 by the UK National Association of Pension Funds (NAPF) to make infrastructure investment more accessible to UK pension funds.
Tesco has become the fund's eighth pension fund investor along with BAE Systems Pensions, the BT Pension Scheme, the Pension Protection Fund and the Railways Pensions Scheme, among others.
Country news
-
-
March 16, 2015
FCC prepares debt for Scottish waste project
Spanish developer FCC is lining-up banks to finance a residual waste public private partnership (PPP) project in Scotland. Read more -
March 17, 2015
UK announces plans to join Asian Infrastructure Investment Bank
The Chancellor of the Exchequer, George Osborne has announced that UK intends to become a prospective founding member of the Asian Infrastructure Investment Bank (AIIB). Read more -
March 18, 2015
Copenhague Infrastructure Partners fund acquires biomass power plant
Copenhagen Infrastructure Partners (CIP) has acquired 100% of the British biomass-fired power plant project "Brite" on behalf of the Copenhagen Infrastructure II fund. Read more -
March 18, 2015
Whitehelm Capital announces two senior appointments
Infrastructure manager Whitehelm Capital has announced two senior appointments to its London office, Matteo Andreoletti and Wessel Schevernels. Read more -
March 23, 2015
Kajima and Interserve reach FC for school PF2 project
Interserve and its joint venture partner Kajima have reached financial close on the project to design and build seven UK secondary schools across Hertfordshire, Luton and Reading. Read more
