mast image

Impact Investing

IPE special report May 2018

Sections

Synesis taps Capita, seeks fixed income managers

UK - Synesis Life, the new pensions liability buyout firm, has appointed Capita Hartshead as third party administrator and said it is looking for one or more asset managers with a fixed-income focus.

"Asset management will also be outsourced. Our overall model is to outsource those aspects of our business for which there is a supply of providers and where we feel that we are not giving away intellectual property," Jay Shah, corporate development director at Synesis told IPE.

Synesis was launched in May by former staff of insurer Prudential.

Shah said that it was not yet clear whether only one or more asset managers will be appointed. "The type of assets that back our business predominantly tend to be fixed interest securities. It will be no surprise that whoever we chose will be strong in that particular sector."

Capita Hartshead was chosen as it is "the largest specialist pensions administration provider in the UK", a press release stated.

"We are keeping those parts of the business in house where we believe we are creating intellectual value such as pricing, mortality assessment, setting the investment strategy as opposed to who actually manages the assets." Shah pointed out that for the latter part of Synesis business it has appointed Gavin Hill, former CEO at GE Asset Management, a few weeks ago.

Synesis Life's business plan over the medium-term is aimed at £7bn-£10bn in liabilities, which depending on the type of scheme would translate into several hundred thousands of members.


Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

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

  • QN-2436

    Asset class: Real Estate - Core Open-ended Real Estate Equity Fund (non-listed).
    Asset region: Asia Pacific.
    Size: Approx. CHF 70-100m per investment.
    Closing date: 2018-05-25.

  • QN-2438

    Asset class: High Yield Bonds.
    Asset region: US.
    Size: USD 300 million.
    Closing date: 2018-05-25.

  • RE-2441

    Closing date: 2018-05-31.

Begin Your Search Here