U.K.–based National Employment Savings Trust (NEST) has launched tenders in search of a fund manager to manage the pension scheme’s unlisted and direct infrastructure equity funds.
“Private infrastructure equity is something we’ve been reviewing and have considered the value it could bring to our investment portfolio,” said Stephen O’Neill, head of private markets at NEST, in a statement. “It’s clear that when chosen and managed carefully, unlisted infrastructure equity typically offers stable, long-term returns even in difficult market conditions.”
According to NEST, the new mandate will add to an existing range of “building blocks” funds that make up the scheme’s default strategy and some alternative fund choices.
“Before applying, fund managers need to carefully consider their fees and investment structures,” said O’Neill. “We need approaches that are repeatable, affordable and scalable to match Nest’s rapidly growing AUM.”
