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

Barcelona to offload Portuguese star to fund new arrivals

first_img According to the front page of Saturday’s edition of El Mundo Deportivo, three potential new arrivals in Catalonia could depend on Semedo’s exit. Ajax star Sergino Dest has been lined up as a direct replacement for Semedo at right back, with Eric Garcia and Memphis Depay also on Koeman’s radar. Read Also: Guardiola: My commitment remains the same on MessiGarcia has already confirmed he will not be extending his stay at Manchester City, amid growing rumours of a return to Barcelona.However, a deal for Depay could be more complicated, with La Blaugrana potentially unable to meet Lyon’s €30m asking price for the Dutch forward.FacebookTwitterWhatsAppEmail分享 Loading… Barcelona’s late summer transfer business could depend on the club’s ability to sell defender Nelson Semedo in the coming weeks. The Portuguese international has been linked with a move away from the Camp Nou ahead of the 2020-21 season, despite playing a regular role at the club in the last 12 months. However, the former Benfica man has been rumoured as a necessary potential big money departure to release funds for new Ronald Koeman to make other purchases.Advertisement Promoted Content14 Hilarious Comics Made By Women You Need To Follow Right NowThe Very Last Bitcoin Will Be Mined Around 2140. Read MoreCouples Who Celebrated Their Union In A Unique, Unforgettable WayTop 10 Most Romantic Nations In The WorldBirds Enjoy Living In A Gallery Space Created For ThemThe Highest Paid Football Players In The WorldNothing Compares To Stargazing Places Around The World7 Universities In The World With The Highest Market Value9 Talented Actors Who Are Only Associated With One Role6 Incredibly Strange Facts About Hurricanes2020 Tattoo Trends: Here’s What You’ll See This Year5 Of The World’s Most Unique Theme Parkslast_img read more