TPT Investment Management (TPTIM) has launched two new alternative investment funds in conjunction with Carne Global Fund Managers (UK) (CGFMUK).
The funds, which are collective investment vehicles for UK pension schemes and have been seeded with capital from TPT’s DB master trust, are the first in a series of seven planned investment funds launching in 2024.
TPTIM’s new Real Assets Fund has more than £500m in assets invested in unlisted infrastructure with a 25% exposure to renewable energy helping to support the green transition, and TPTIM’s Secure Income Fund has more than £300m in assets invested in private credit and secured financing.
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.
Peter Smith, head of investment at TPT Investment Management – part of the TPT Retirement Solutions group, 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. 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.
“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, CEO of CGFMUK, added: “We are delighted to have been chosen by TPTIM to act as alternative investment fund manager for their range of collective investment schemes and to have the first two funded and open for investment. This is an exciting development and one that will help transform the way TPT manage their pool of assets to meet their growth ambitions.”
