BT Pension Scheme (BTPS) has invested an undisclosed amount in Federated Hermes GPE Innovation Fund II (HINF II) alongside other British businesses.

HINF II is focused on driving innovation and technological advancement across Europe and will conform with Article 8 of the EU Sustainable Finance Disclosure Regulation (SFDR).

Federated Hermes said the fund’s focus will be on companies and funds with strong potential in the information, communication and technology sector, particularly within non-cyclical sub-themes such as digital enterprise architecture and next generation healthcare.

The fund introduces two separate investment lines: one for fund investments and one for direct investments and co-investments, which Federated Hermes claims will allow greater flexibility for investors.

It added that the fund’s launch demonstrates its confidence for further opportunities in the European growth equity market and builds upon Federated Hermes investment in the European growth equity market since 2014 and is successor to the 2020 HINF I.

The fund is available for distribution across global jurisdictions, including but not limited to the UK, Switzerland and other core European Union markets.

Wyn Francis, chief investment officer at Brightwell, adviser to BTPS, said; “BTPS remains committed to supporting technological innovation across the UK and Europe. This growth focused programme complements their thematic Horizon private equity strategy which the scheme co-founded with Federated Hermes GPE.”

Peter Gale, CIO and head of private equity at Federated Hermes GPE, added: “Following the success of HINF I, HINF II underlines our priority to maintain a strong focus on investing in European growth opportunities.”

Gale added that Federated Hermes prioritises investment in companies and themes that are at the forefront of accelerating technological innovation.

He continued: “By focusing on software-enabled themes and capturing opportunities arising from demographic and societal changes, we stay ahead of industry trends with the aim of driving growth within the portfolio.”

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Pamela is IPE's UK correspondent. Before joining IPE in May 2023, she spent five years writing about the insurance industry. During her career so far she won awards for Most Promising Newcomer in 2020 and Best Investigative Article in 2022 from the British Insurance Brokers Association, and was also highly commended at the WTW Media Awards for Insurance Features Journalist of The Year.View full Profile

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