TPT Investment Management launches two Alternative Investment Funds with combined assets of over £800m

• TPT Investment Management successfully launches two new pooled Alternative Investment Funds for UK pension schemes.
• The funds provide pension schemes with access to Real Assets and Secure Income investment opportunities.
• These are the first new fund launches for TPT Investment Management since its creation in 2023.
• Schemes can invest in the new funds through TPT’s DB Connect and DB Complete propositions.

TPT Investment Management (TPTIM), the fiduciary management company and part of the TPT Retirement Solutions group, has completed the successful launch of two new Alternative Investment Funds, in conjunction with Carne Global Fund Managers (UK) Ltd (CGFMUK). The funds are collective investment vehicles for UK pension schemes and have been seeded with capital from TPT’s DB master trust. These are the first two in a series of seven planned investment funds launching throughout 2024. The funds will provide DB pension schemes with access to all major public and private asset classes.

TPTIM’s new Real Assets Fund has more than £500 million in assets invested in unlisted infrastructure with a 25% exposure to renewable energy helping to support the green transition. More than one-third of its assets are based in the UK, allowing schemes to support the wider UK economy with these investments. TPTIM’s Secure Income Fund has over £300 million in assets invested in private credit and secured financing.

The fund launches are the first of a planned series of new collective investment vehicles designed by TPTIM to provide pension schemes with access to a wide range of investment strategies. 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. In this way, TPTIM will build on the successful model of scheme consolidation – pooling assets to deliver value and impact – to the benefit of corporate pension schemes.  

Access to the new TPTIM funds is available through its fiduciary management service as part of TPT’s DB Connect proposition that allows trustees to benefit from TPT’s pensions and investment expertise while retaining the trusteeship of their scheme. TPTIM is also responsible for the management of the combined assets of TPT’s existing DB master trust (DB Complete). 

Peter Smith, Head of Investment at TPT Investment Management, comments: 

“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, comments: 

“We are delighted to have been chosen by TPTIM to act as Alternative Investment Fund Manager (AIFM) 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.”

Notes to Editors:

TPT Retirement Solutions (TPT) is one of the UK’s leading providers of workplace pensions with over 75 years’ experience of managing defined benefit and defined contribution pension schemes. It has £9.6 billion of assets under management (as at 30 September 2023) and more than 450,000 members.

TPT’s mission is to make pension schemes perform better for everyone, from the sponsoring employers and trustees to the members who are saving for the future. It is an innovative, forward-thinking organisation, investing in technology to improve the services they provide. TPT is ultimately owned by a pension fund, providing genuine alignment of interests with those of its clients and scheme members.

TPT Retirement Solutions Limited is wholly owned by Verity Trustees Limited in its capacity as trustee of The Pensions Trust. TPT Retirement Solutions Limited provides pension management and administration services to UK pension schemes.

TPT Investment Management Limited is a wholly owned subsidiary of TPT Retirement Solutions Limited. TPT Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FCA) and provides investment management and consultancy services to UK pension schemes.

Registered address: Verity House, 6 Canal Wharf, Leeds LS11 5BQ.