UK master trust NEST awards diversified private credit mandate

first_img“In a very competitive tender process BNP Paribas Asset Management’s expertise, commitment to ESG and innovation really stood out and caught our attention,” he said. “They’ve found a way in which we can confidently allow our members to benefit from the lower volatility and enhanced returns private markets can offer.”Addressing the Pensions and Lifetime Savings Association’s annual conference in Manchester this morning, Fawcett highlighted NEST’s asset growth trajectory as a principle reason the fund could access illiquid asset classes. The master trust is expected to reach £20bn by 2022. Mark Fawcett, NEST CEOJulien Halfon, head of pension solutions at BNP Paribas AM, added that the “innovation” shown by NEST regarding its private market investments showed other defined contribution funds it was possible to allocate to illiquid assets.“NEST did it – now it is time for others to wake up and realise this is possible,” Halfon said.Initial investments under the new mandate are to target European and US mid-market loans and loans to UK small and medium-sized enterprises, as well as infrastructure and commercial real estate debt.US loans will be sourced through the asset manager’s banking parent, while the management of the portfolio will be a collaboration between BNP Paribas AM’s “multi-asset, quantitative and solutions” team and its private debt and real assets team.NEST said it anticipated to commit around £500m across its three private credit mandates over the next 12 months but “will not force money into the market”. NEST has appointed BNP Paribas Asset Management to run a portfolio of diversified private credit assets.The French asset manager has designed an open-ended fund structure to offer exposure to a range of sub-sectors of the illiquid, unlisted credit market, according to an announcement today.Mark Fawcett, chief investment officer at NEST, said the new fund would sit within the £8bn (€9.3bn) master trust’s overall allocation to private credit alongside infrastructure debt manager BlackRock and real estate debt manager Amundi. The scheme aims to have an initial allocation of around 5-7% to private credit after a ramp-up phase next year, with allocations to the three managers managed on a deal-flow driven basis.In a statement announcing the new allocation, Fawcett said the move was “an important step in developing our investment strategy and helping to deliver the strong risk-adjusted returns we want for our members”.last_img read more

Joshua reveals why he visited Nigeria as a non-champion

first_imgRead Also: Four-goal Shakhtar set up Europa League semi against Inter“I’ve just got a bit more of a Nigerian accent behind me now. Yeah, it was a good experience. And that was the last time I went since last year and this time I went back as a champion.“So it was important. I took my belts out there, connected with the people. So yeah, it means a lot that we went there. My cousin went there. My son went there for the first time, stuff like that. So it was good.”FacebookTwitterWhatsAppEmail分享 Previously, Anthony Joshua had visited Nigeria for six months when he was just eleven.“So what happened I think where parents find it difficult is that let’s say you’re earning a thousand pounds a month in the UK. But rather than just getting the best things here in the UK and establishing yourself, there’ll be a situation where they’re still trying to build back home.“So there was going back and forth. So my mum wanted to go back and do some business there. So what I thought was a holiday was actually me going to school.“So that’s just the way it is in a lot of these communities where it’s home to my mum, but for me, I remember just crying, walking down this long stretch of about 300 meters into boarding school. A complete culture shock.“And when I say culture shock is because of the way of the Nigerians. When you land at Nigerian Airport, you know you’re in Nigeria. You know you’re on your own. No police can save you. I mean, you got to make sure you’ve got your people, you know who you’re dealing with, someone’s coming to pick you up, that type of vibe.“So when I got there, it was just a massive culture shock that this isn’t a territory I’m familiar with. So I just had to pick it up quickly and I settled in quick.“And before I know it, I was back in the UK because my mum’s business didn’t go to plan. And here we are, again, we’re back to the estate with my friends. Advertisement Loading… Anthony Joshua has revealed why he opted to visit Nigeria after losing his world titles in devastating fashion on June 1, 2019, in the US. Across the boxing world AJ’s defeat to Andy Ruiz Jr. was seen as an opportunity for the Olympic gold medalist to undergo a firm reality check. Although,  Joshua later regained his world titles months later,but in between, he decided to visit his homeland in Nigeria. Speaking during an interview on Apple’s ‘Songs for Life’ recently, the 30-year-old Joshua explained why he opted for the moment after leaving Nigeria for the UK as a child. “When I went to Nigeria the first time in maybe 17 years, I went there as a non-champion. And it was fine to go back, but people say, “Why did you come back as a non-champion?” I say, “Because you respect me as a person whether I have the belts or not. Don’t ever judge me for that. You respect me first,” said Joshua. “So that was my message as well and it was just the right time. When you’re winning, everyone wants a piece of you. When I had lost, I had more time to do what I wanted to do. “So it was just a time to go back and see family or friends. Promoted ContentThe Highest Paid Football Players In The WorldCan Playing Too Many Video Games Hurt Your Body?The 10 Best Secondary Education Systems In The WorldWhat Are The Most Delicious Foods Out There?Most Beloved First Ladies Of All TimeWhich Country Is The Most Romantic In The World?14 Hilarious Comics Made By Women You Need To Follow Right Now5 Of The World’s Most Unique Theme Parks5 Of The World’s Most Unique Theme Parks10 Of The Best Places Around The World To Go StargazingThese Hilariously Creative Shower Curtains Will Make Your Day7 Universities Where Getting An Education Costs A Hefty Pennylast_img read more