TPT Investment Management (IM) has launched two new pooled alternative investment funds for UK pension schemes, in conjunction with Carne Global Fund Managers (UK).
The funds are collective investment vehicles that aim to provide schemes with access to real assets and secure income investment opportunities, and have been seeded with capital from TPT’s defined benefit (DB) master trust.
They are the first two funds in a series of seven planned investment funds launching throughout the year, which seek to provide DB schemes will access to all major public and private asset classes.
TPT IM’s new Real Assets Fund has more than £500m in assets invested in unlisted infrastructure, with a 25 per cent exposure to renewable energy and more than a third of its assets based in the UK.
Meanwhile, the firm’s Secure Income Fund has more than £300m in assets invested in private credit and secured financing.
Access to the funds is available through TPT IM’s fiduciary management service as part of TPT’s DB Connect proposition.
TPT IM is also responsible for the management of the combined assets of TPT’s existing DB master trust.
“Our new funds provide schemes with exposure to alternative investment assets, such as infrastructure and broader private market assets,” commented TPT IM head of investment, Peter Smith.
“The funds will allow schemes to benefit from asset pooling and provide access to a range of investments that would not necessarily be available as a standalone scheme.
“Our investment team has worked closely with trustees for many decades to deliver a strong performance with robust governance and investment expertise they can trust. Being owned by a pension scheme means we can pass the benefits of our expertise on to other trustees.”
Carne Global Fund Managers (UK) CEO, Jeremy Soutter, added: “We are delighted to have been chosen by TPTIM to act as alternative investment fund manager for their range of collective investment schemes and to have the first two funded and open for investment.
“This is an exciting development and one that will help transform the way TPT manage their pool of assets to meet their growth ambitions.”