TPTIM said the funds are collective investment vehicles for UK pension schemes and have been seeded with capital from TPT’s defined benefit (DB) master trust.
The fiduciary manager’s new real assets fund has more than £500m in assets invested in unlisted infrastructure with a 25% exposure to renewable energy helping to support the green transition. More than one-third of its assets are based in the UK, allowing schemes to support the wider UK economy with these investments.
Its secure income fund has over £300m in assets invested in private credit and secured financing.
It said these are the first two in a series of seven planned collective investment funds launching throughout 2024 – noting the funds will provide DB pension schemes with access to all major public and private asset classes.
TPTIM said the collective investment vehicles enable pension schemes joining TPT to immediately achieve scale benefits across asset classes by aggregating with the assets in the master trust.
Schemes can invest in the new funds through TPT’s DB Connect and DB Complete propositions.
TPT Investment Management head of investment Peter Smith said: “Our new funds provide schemes with exposure to alternative investment assets, such as infrastructure and broader private market assets, as well as TPTIM’s leading responsible investment capabilities.
“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.”
CGFMUK chief executive 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.”
The launches come after TPT Retirement Solutions set up TPTIM to provide consultancy services to DB schemes last year – a move that came after a restructure at the provider.