The UK National Association of Pension Funds (NAPF) is seeking a chief executive officer (CEO) for its Pensions Infrastructure Platform (PIP), the initiative that will enable UK schemes to invest in infrastructure. The role will be one of the most important positions in UK infrastructure.

PIP is an investment fund backed by 10 large UK pension schemes. The platform includes schemes of private companies such as BT, BAE Systems and British Airways. Other pension funds such as Pension Protection Fund and the Railways Pension Scheme are also in the platform.

The fund is targeting £2 billion. So far these funds have committed £1 billion and the PIP hopes to raise this amount again from other, smaller pension funds over the coming years. Its founding investors include the London Pension Fund Authority (LPFA), West Midlands Pension Fund and Strathclyde Pension Fund.

NAPF members discussed the PIP's progress in a meeting last week. In a media briefing, NAPF chief executive Joanne Segars (pictured) said the PIP hoped to have "money in the ground by the end of the year". The fund will have a minimum 10-year fund life.

Earlier this year, PwC was hired to help PIP select a fund manager, or fund managers. Segars also said PIP would have in-house oversight as well.