Leicestershire looks for private equity gatekeeper

THe UK pension scheme plans to allocate up to £70m to private equity.

The £1.35bn Leicestershire County Council pension fund has tendered for a gatekeeper manager for its planned private equity investment.

The fund says it is aims to invest between 3 per cent and 5 per cent of the total fund in private equity over a number of years, probably commencing earlier next year. The fund will consider investment on a fund-of-funds and/or a segregated basis will be considered, and more than one gatekeeper may be appointed.

Given the potential weighting the fund will put into private equity the mandate could be anything between £40m and £70m.

Leicestershire's follows the decision of Tameside to review its private equity strategy.

Source: ii-q.com