An investment manager belonging to a UK pensions group has launched a private credit fund seeded by money from a defined benefit (DB) master trust.
TPT Investment Management, which is part of the TPT Retirement Solutions group, has seeded the fund from TPT’s DB master trust and launches with £650 million in assets invested in a broad spectrum of private investment opportunities across the credit market.
The fund contains a diverse range of risk premia not readily available to smaller schemes, said the firm, adding that the fund is the third launch in a series of seven planned launches.
The collective investment vehicles will enable pension schemes joining TPT to immediately achieve scale benefits across asset classes by aggregating with the assets in the master trust. In this way, TPTIM will build on the successful model of scheme consolidation – pooling assets to deliver value and impact – to the benefit of corporate pension schemes, said the firm.
Access to the new TPTIM funds is available through its fiduciary management service via DB Connect, a new proposition for third-party trustees.
Simon Moss, portfolio manager for the fund, said: “Our latest in the series of new fund launches will continue to broaden our schemes’ access to a diversified range of assets. This fund will allow schemes to benefit from asset pooling and investment types that would not necessarily be available to smaller, stand-alone schemes. The experience of our investment team and alignment of interests with our ownership will allow us to continue to pass these benefits onto other trustees and schemes.”
TPT Retirement Solutions manages DB and defined contribution pension schemes. It has £9.6 billion of assets under management and more than 450,000 members.
