UK - The Pension Protection Fund (PPF) has appointed seven private equity managers as part of a move to increase its alternatives allocation.

The PPF revealed in January it was looking to hire managers specialising in the secondary private equity market, and said it was part of a plan to enhance the organisation’s investment strategy and take advantage of the “near-term opportunity”. (See earlier IPE article: UK roundup: PPF targets secondary private equity)

The PPF has now appointed a panel of managers to allow the PPF flexibility and “take advantage of secondary market opportunities as arise”, comprising of:

Goldman Sachs; Hamilton Lane; Lexington Partners; LGT Capital; Partners Group; Pantheon Ventures, and RREEF.

A spokesman for the PPF said because the managers are tasked with handling potential future investment it is unclear how much of the fund’s £4bn (€4.5bn) in assets will be allocated to the asset class, or what proportion it will account for in the new 20% allocation to alternatives.

Details from the PPF’s Statement of Investment Principles (SIP), published earlier this month confirmed the organisation intends to increase its alternatives allocation to 20% at the expense of the equity portfolio, which will be reduced to around 10%. The alternatives allocation is also expected to include infrastructure, property and hedge funds. (See earlier IPE article: PPF to diversify investment strategy from equities to alternatives)

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