BT Pension Scheme approves $1bn mandate

The UK private pension fund has committed to a mandate managed by Hermes GPE.

Institution: BT Pension Scheme
Headquarters: London, United Kingdom
AUM: £54.75bn
Allocation to alternatives: 14.80%

BT Pension Scheme has agreed to allocate $1 billion in a private equity mandate to Hermes GPE, according to a report on the fund manager’s website. The mandate will be invested over three years and split equally between co-investments and funds.

The £54.75 billion UK private pension has a 3.0 percent allocation to private equity.

As illustrated below, Hermes GPE has historically been BT Pension Scheme’s primary private equity manager of choice. A similar mandate of £1 billion was made to the firm in 2015.

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