UK. Nest plans bold expansion into private markets
Nest, one of the UK’s largest workplace pension schemes with 10m members, is planning an aggressive push into private markets which could “comfortably” exceed a fifth of its entire £13bn investment portfolio.
Nest has about 9 per cent in private markets, including 6 per cent in private credit, with the remainder in direct commercial real estate.
By the first quarter of next year, it aims to raise its private market holdings to about 15 per cent by expanding its equity stakes in infrastructure.
“We believe Nest can comfortably accommodate 20 per cent or more in private/illiquid investments, from a liquidity risk perspective,” said Stephen O’Neill, Nest’s head of private markets. “We see value in these assets for our members.”
Read more @Financial Times
