mast image

Special Report

Impact investing


Railpen hires private markets director for growing team

The UK’s industry-wide pension scheme for the railway industry has hired Andrea Ash as an investment director for its growing private markets team.

Ash joins from Tesco Pension Investments, the in-house asset manager for the £13.2bn (€15bn) Tesco Pension Scheme, where she was an alternatives fund manager.

Paul Bishop, head of private markets at the £27.4bn railways scheme, said: “Andrea’s appointment marks another chapter of growth as we develop the capabilities of our private markets team.

“She brings valuable perspective and experience in sourcing, executing and managing illiquid investments and we are delighted to welcome her to the business.”

Ash added: “RPMI Railpen is rightly recognised as a leading global investor, with a strong and growing reputation for excellence in private markets investing. I look forward to working with the team in continuing to generate sustainable, long-term returns for the schemes’ members.”

Andrea Ash, private markets investment director, RPMI Railpen

Andrea Ash, private markets investment director, RPMI Railpen

Prior to joining Tesco, Ash worked for Amundi Asset Management and Pioneer Investments, primarily in hedge fund research. 

Her appointment to Railpen follows that of Ted Jennings, who joined in September from Aviva as a senior investment manager in the private markets team.

According to RPMI Railpen’s 2017 annual report, the scheme had £2.2bn invested in its private equity pooled fund and £579m allocated to a dedicated infrastructure fund.

Under its revised investment strategy, new allocations to private market assets are housed in either its illiquid growth fund or its long-term income fund. Ash is to focus on growth assets, the pension scheme said.

Railpen asset allocation

Source: RPMI Railpen

RPMI Railpen’s asset allocation as of 31 December 2017

Related images

  • Andrea Ash, private markets investment director, RPMI Railpen

Have your say

You must sign in to make a comment


Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2543

    Asset class: Search of an Asset manager / Advisor managing / Advising a risk-based equity derivatives overlay program.
    Asset region: Global Developed Markets Equities, Global Emerging Markets Equities, Swiss Equities.
    Size: CHF 700-2100 million.
    Closing date: 2019-06-17.

  • QN-2544

    Asset class: Transitional Real Estate Debt.
    Asset region: North America (USA/Canada).
    Size: $50-100mn.
    Closing date: 2019-06-17.

  • QN-2546

    Asset class: Real Estate Equity Fund (non listed).
    Asset region: Europe.
    Size: Total CHF 600m, approx. CHF 100-300m per fund investment.
    Closing date: 2019-06-28.

Begin Your Search Here