Investor Profile
TfL Pension Fund: A bespoke benchmark in Bridgewater mandate strikes gold
Transport for London Pension Fund styled a bespoke benchmark to gold in its Pure Alpha mandate with Bridgewater. It has added hundreds of millions of pounds to the portfolio, says chief investment officer Padmesh Shukla. In a wide-ranging conversation, he also explains the rationale for reducing equity to just 18 per cent of the total fund and why emerging markets aren't offering the diversification or returns they used to.
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NBIM prioritises trading efficiency, AI and culture in three-year plan
The largest investor in the world, Norges Bank Investment Management, is investing in AI to reduce costs, increase trading efficiency, and make better active decisions. The fund has set out its three-year strategy which also includes focusing on targeting managers with more flexibility to express negative views.
Private equity: Arizona’s ASRS argues the case for secondaries
The $50 billion Arizona State Retirement System is pushing into private equity secondaries, actively looking to invest in stakes being overloaded by other LPs, in a strategy that will complement its co-investments program and SMA investments with external managers. It’s looking for opportunities across the US and Europe.
TIFF plays the long game in venture capital
The $9 billion asset manager for 500 US endowments and foundations, TIFF, is famed for its PE and venture capital allocation. Head of private markets Brendon Parry reflects on his priorities, including navigating the winners and losers of AI, and leaning into independent sponsors and relationships with the best managers.
Railpen ups infra allocation; commodities investments get the green light
Railpen will ramp up its infrastructure allocation and take on more core-plus and value-add assets to complement its existing core exposures. It also received the nod to a commodities allocation which director of total portfolio investments John Greaves believes is a hedge to inflation and uncertain central bank policies.
In-house investment and alternatives: How Germany’s WPV sets itself apart
Germany's WPV stands out amongst peers for its in-house investment management and the fact that half of its €6 billion ($6.9 billion) portfolio is invested in alternatives. Managing director Sascha Pinger explains how these characters give the fund an edge in Germany's competitive environment for industry pension funds.
Veritas plans equity boost as Finland rewrites pension rules
Finland’s €5 billion ($5.8 billion) Veritas Pension Insurance Company is preparing to increase its public equity allocation by 15 per cent in line with new regulations in the country that aim to improve the sustainability and financial stability of the pension system. CIO Laura Wickström explains her approach.
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