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Nest issues tender for unlisted infrastructure equity

Published: 08 January 2020

Nest has today launched a new procurement inviting fund managers to tender for unlisted / direct infrastructure equity funds.

The pension scheme believes private infrastructure equity investments can offer huge opportunities for its 8.5 million members and is asking fund managers to submit ways in which Nest can access the asset class.
The latest procurement follows Nest’s recent appointment of private credit mandates, announced last September, and is another step in enhancing Nest’s investment strategy.
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.”

This new mandate will be added to the existing range of ‘building blocks’ funds that make up the scheme’s default strategy – the Retirement Date Funds – and some of our alternative fund choices. 
Successful fund managers will need to demonstrate they can offer a high quality and evergreen investment processes, a robust risk management framework and consideration of environmental, social and governance factors. 
Applications for this tender can be made through the Bravo platform and must be submitted before 17 February 2020.
Notes to editors
Any fund managers interested in tendering can find further information about the unlisted infrastructure equity procurement here: