On the go: Master trust Nest is inviting tenders from managers of infrastructure equity assets, as the provider continues to add to its portfolio of alternatives.
Nest has already gained some exposure to infrastructure via private credit mandates with BlackRock and BNP Paribas Asset Management, announced in September and October respectively. A third private debt mandate with Amundi exposes the master trust to real estate.
Infrastructure has proved attractive to pension schemes due to its steady cash flows, particularly with assets exhibiting monopolistic characteristics.
Stephen O’Neill, Nest’s head of private markets, said: “Private infrastructure equity is something we’ve been reviewing and have considered the value it could bring to our investment portfolio.
“It’s clear that when chosen and managed carefully, unlisted infrastructure equity typically offers stable, long-term returns, even in difficult market conditions. We’re therefore excited to review fund manager submissions.
“Before applying, fund managers need to carefully consider their fees and investment structures. We need approaches that are repeatable, affordable and scalable to match Nest’s rapidly growing AUM.”
Applications for this tender can be made through the Bravo platform and must be submitted before February 17 2020.
