Nest, the largest workplace pension in the UK, says that private credit managers who prioritise institutional clients will be more favourably viewed. The £61 billion ($82 billion) fund has awarded a £450 million ($605 million) US direct lending mandate to Crescent Capital this month, citing the manager's institutional-client-first approach as a key attraction.
Phil Edwards and Paul Woolley argue that if asset owners exhibit a more effective application of fiduciary duty to curb performance-chasing by verifying the implicit time horizon of the strategies adopted by the asset managers they employ, they could incentivise a shift towards longer horizons within financial markets with both private and social benefits.
This session examined how the digitalization of economies and the shift to renewable energy offer potential long-term growth opportunities in infrastructure; and how it can play a role in long-term investor portfolios.
The UK defined contribution fund, NEST has added a number of new asset classes to its portfolio over the past year – including infrastructure with a focus on renewables – but the fund is still missing an allocation to private equity. CIO Mark Fawcett spoke to Amanda White about the fund’s challenge to the industry on private equity fees, its focus on climate-aware portfolios and innovative approaches to portfolio management.
Concentrated power by monopolistic companies is a systemic problem in the US economy, according to Matt Stoller, director of research at the American Liberties Project, but investors have little power to change it.
A new paper by EDHECInfra argues that selecting the right benchmark could completely change investors' preferred asset allocation to infrastructure equity and debt.
The composition of an investment committee is the most meaningful criteria in assessing diversity, equity and inclusion in private market fund managers according to Mercer.
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