Hastings Funds Management has been selected by The RBS Group Pension Fund as its partner to develop and manage their private market infrastructure assets.
The initial allocation by The RBS Group Pension Fund is GBP750m.
The mandate is to source and manage core infrastructure investments in the UK and select OECD countries over the long term. The RBS Group Pension Fund, one of the UK’s largest pension schemes, is a long term investor seeking exposure to assets with reliable cash flows and a strong linkage to inflation to help match their pension liabilities.
Hastings will focus on sourcing infrastructure assets with superior risk adjusted returns across the capital structure of these assets. Depending upon the opportunity, these investments may include both equity and debt infrastructure assets, including owning the whole capital structure of an asset.
Hastings chief executive officer Andrew Day says: “We are delighted to be selected to partner with The RBS Group Pension Fund to invest in the growing infrastructure asset class. As a specialist in equity and debt infrastructure, Hastings is well placed to develop investment solutions for The RBS Group Pension Fund. Our approach is to partner with a select number of like-minded clients in this attractive asset class in what is an increasingly challenging global investment environment.”
Robert Waugh, chief investment officer for The RBS Group Pension Fund, says: “We are pleased to have found a like minded manager in Hastings to help us invest in infrastructure assets across the capital structure.”
