TPT Investment Management (TPTIM) has launched two new alternative investment funds with combined assets of over £800m (€944m), in conjunction with Carne Global Fund Managers.

The first two of seven planned funds, provide pension schemes with access to real assets and secure income investment opportunities. They are the first funds launched for TPTIM since its creation in 2023.

The Real Asset 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.

The Secure Income Fund has over £300m in assets invested in private credit and secured financing.

TPTIM is planning to launch five more investment funds throughout 2024, providing defined benefit (DB) pension schemes with access to all major pubic and private asset classes.

The firm added that 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.

In this way, TPTIM said it would build on the model of scheme consolidation – pooling assets to deliver value and impact – to the benefit of corporate pension schemes.

Access to the new funds is available through its fiduciary management service as part of TPT’s DB Connect proposition that allows trustees to benefit from TPT’s pensions and investment expertise while retaining the trusteeship of their scheme.

Peter Smith, head of investment at TPTIM, 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.”

He added that 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.

He continued: “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.”

Jeremy Soutter, chief executive officer of Carne Global Fund Managers, added: “This is an exciting development and one that will help transform the way TPT manage their pool of assets to meet their growth ambitions.”

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