Greater Gwent seeks to increase its real assets holdings
Investors - JANUARY 26, 2024

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Greater Gwent seeks to increase its real assets holdings

by Lewis Dayton

The Greater Gwent (Torfaen) Pension Fund (GGPF) in Wales is looking to gradually reduce its U.K. equity exposure by 4 percent in favor of making investments in U.K.-focused real assets (infrastructure and real estate).

GGPF recognizes the increasing opportunities in infrastructure investment, noting in recent meeting documents, “There is an ever-increasing focus on investment in the U.K. via other asset classes (such as real estate, infrastructure and parts of private credit), which offers differentiated access to the market with the potential to support long-term U.K. growth capital for smaller companies while offering a better mix of risk/return drivers than listed U.K. small cap equities.”

GGPF notes the Wales Pension Partnership, a collaboration of eight Local Government Pension Schemes in Wales, has recently made an infrastructure program available and was in the search process for a long-term real estate allocator as of late 2023 to support WPP with investab

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