Border to Coast confirms $1bn in commitments

Institution: Border to Coast Pensions Partnership
Headquarters: Leeds, UK
AUM: £21.72 billion
Allocation to alternatives: 13.8%

Border to Coast Pensions Partnership has approved $1.07 billion in commitments across seven private equity vehicles, according to a press release issued by the retirement fund.

The commitments mark the completion of the pension’s £5.7 billion ($6.8 billion; €6.7 billion) private markets programme, which launched in June 2021.

The commitments comprised of $100 million each to to StepStone VC Opportunities VII and General Catalyst XI – Aggregator and $101.8 million to PAI Partners VIII. The pension also committed $132 million to Ares SSG Capital Partners VI and $219.6 million to BlackRock European Middle Market Debt Fund. A further $246 million went to HPS Core Senior Lending Fund II  and $172 million to KKR Asset-Based Finance Partners.

As illustrated below, the £21.72 billion UK public pension’s recent private equity commitments have focused on a variety of strategies across North America or the Asia-Pacific region.

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