Border to Coast to make first PE manager selections

BCPP is one of the eight partnerships between 89 local government pension schemes (LGPS) in England and Wales that collectively invest in assets, in a bid to take advantage of economies of scale.

The partnership targets global exposure in private equity across North America, Europe and Asia. The focus is on a diversified portfolio of strategies, including buyout, venture and growth, as well as distressed and opportunistic. It plans to commit up to £500m to PE during the financial year 2019/20, Unquote previously reported.

It will commit £1bn per year to private markets in total, including PE, infrastructure and private credit, and will begin the search for infrastructure and private credit managers in the third and fourth quarters of this year, respectively.

BCPP will hold a private markets manager day on 2 July 2019, in order to provide more information on the structure to managers. Some of the topics that would be covered include details on the investment process, working with managers, and an overview of the private markets structure. It also includes the proposed structure for its private equity, infrastructure and private credit portfolios.

Established in 2018, BCPP oversees the investments of the pension funds of Bedfordshire, Cumbria, Durham, East Riding, Lincolnshire, Northumberland, North Yorkshire, South Yorkshire, Surrey, Teesside, Tyne & Wear and Warwickshire.

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