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Federated Hermes secures $1bn PE mandate from BT Pension Scheme

Federated Hermes, a specialist in active, responsible investing, has been awarded a $1 billion private equity mandate from BT Pension Scheme (BTPS), one of the UK’s largest occupational pension schemes.

The mandate, called Horizon III, will be managed by Hermes GPE LLP, a specialist global private equity investor and wholly owned subsidiary of Federated Hermes, and will be invested over three years.

Horizon III will pursue the global thematically diversified strategy through a proven 50/50 funds and direct co-investment model established following similarly sized investment allocations managed for BTPS — Horizon I (2015) and Horizon II (2018).

Hermes GPE has invested more than $11 billion across almost 300 funds and more than 260 co-investments.

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