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West Yorkshire buys into private equity

The West Yorkshire Pension Fund has awarded a £15m mandate to Aberdeen Murray Johnstone Private Equity

Aberdeen Murray Johnstone Private Equity (AMJPE), a division of Aberdeen Asset Managers Limited, has won the mandate to manage West Yorkshire Pension Fund’s (WYPF) third segregated £15m private equity fund, to be called Yorkshire Investors III.

WYPF has assets of nearly £5 billion and has reviewed its private equity investment strategy over the past nine months and Yorkshire Investors III is part of its ongoing strategy to allocate a portion of its assets to this asset class.

Stuart Imeson, Head of Pensions & Investments at West Yorkshire Pension Fund, commented: “Following a thorough selection process, I am very pleased with the appointment of AMJPE to manage the WYPF’s new £15 million regional private equity fund. Whilst private equity investment by its very nature may be viewed as higher risk, with the right managers it can produce substantially higher returns than traditional forms of investment.”

AMJPE’s brief for Yorkshire Investors III is to invest in businesses based in or with substantial employment in, the North of England and Scotland. Investments will range from £100,000 to £1 million and the fund will have access to individual investments in smaller transactions or to participate with other client funds of AMJPE in larger transactions. The Fund will be managed out of AMJPE’s Leeds office.