Investment
RPMI Railpen commits to new joint venture vehicle
| February 23, 2018
RPMI Railpen has committed to a new joint venture vehicle to provide initial capital to breakthrough emerging private equity and alternatives managers.
RPMI Railpen, the Alaska Permanent Fund Corporation and the Public Institution for Social Security of Kuwait have committed a total of $700m (£500.5m) to the venture, Capital Constellation, which will be advised by Wafra Investment Advisory Group.
Capital Constellation expects to complete its first strategic partnership with Astra Capital Management, a private equity manager specialising in growth buyouts in the communications and technology services sectors.
RPMI and RPMI Railpen run the railway pension schemes on behalf of the Railway Pension Trustee Company.