Wales Pension Partnership awards private markets contracts

Wales Pension Partnership (WPP) has made a number of appointments to implement its pooled infrastructure and private debt investment solutions.

Russell Investments is charged with developing the WPP pooled private debt investment programme, while GCM Grosvenor will implement closed ended infrastructure investments.

Open-ended infrastructure will be accessed via the CBRE Global Infrastructure Fund, IFM Global Infrastructure Fund and Octopus Renewables Infrastructure SCSp.

The appointments follow a rigorous procurement process run by WPP and assisted by investment consultants bfinance.

WPP funds will now have efficient and effective access to illiquid asset classes that are fast becoming significant holdings among LGPS funds.

Chris Moore, director of corporate services at the WPP’s host authority, 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. 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,” he continued.