Wales awards private debt and infrastructure contracts

The Wales Pension Partnership (WPP) has announced a series of appointments to facilitate implementation of its pooled infrastructure and private debt investment solutions.

In charge of developing WPP’s pooled private debt investment programme is Russell Investments, while GCM Grosvenor will implement closed-ended infrastructure investments.

Open-ended infrastructure opportunities will be accessed though investments placed with CBRE Global Infrastructure Fund, IFM Global Infrastructure Fund and Octopus Renewables Infrastructure SCSp.

The procurement process was run by WPP with investment consultancy firm bfinance.

The WPP’s Joint Governance Committee was established in 2017 and is responsible for oversight of the pool’s partner organisations and the services they deliver to the LGPS funds in Wales.

Carmarthenshire County Council acts as host authority, liaising day-to-day with the pool’s external partners, on behalf of all of the LGPS funds in Wales.

Chris Moore, director of corporate services at Carmarthenshire County Council, said: “Alternative asset classes have historically been challenging to access in a cost-effective manner. Pooling offers the opportunity to address this challenge.”

Moore continued, “The WPP’s constituent funds have increasing strategic demand for these investments, and we look forward to working with our newly appointed partners to meet this demand.”