Clara Pensions appoints Kempen Capital Management as fiduciary manager

Clara Pensions has appointed Kempen Capital Management as its fiduciary manager, with the trustee of the Clara Pension Trust and Clara Pensions selecting the provider following an "extensive selection process".

Under the appointment, Kempen will implement a joint investment strategy on behalf of both the Clara pension scheme and Clara’s funded covenant, which aims to deliver a low-risk and secure journey to buyout.

The appointment has been highlighted as demonstration of Clara’s readiness to conduct its first transactions and welcome its first members once it has completed regulatory assessment, and of the importance of strong governance and joined-up investment implementation.

Kempen, which described the transaction as a “significant milestone” in the growth of its UK business, was selected following an extensive selection process, which was supported by LCP partners, Dan Mikulskis and Rob Guthrie.

Commenting on the selection, Independent Trustee Services, which is a director of the Clara Pension trustee who led the appointment process, client director, Frank Oldham, said: “The robust and challenging selection process saw impressive pitches from a number of providers.

"However, Kempen clearly demonstrated their understanding of what Clara is seeking to achieve and how they could support us.

“Our role is to ensure that members receive their promised pensions. We want our members to be confident that Clara works in their interests and that they are on a smooth journey to buyout. Ensuring our assets are properly managed to achieve that is paramount.”

Adding to this, Clara Pensions CEO, Adam Saron, stated that the group was "particularly impressed" by Kempen's ESG credentials, noting that their experience of Dutch consolidation will be "particularly valuable".

He continued: “A consolidator’s covenant is a combination of its capital and its investment strategy. Kempen’s scale and expertise will support our investment decision making but also provide additional governance and independence in investment implementation.

"Members can be confident in the strength and consistency of Clara’s covenant.

“Our investment approach is there to deliver Clara’s bridge to buyout model. Bringing Kempen on board will help us deliver safer pensions for members, trustees and sponsors.”

Kempen head of business development Nicholas Clapp, and managing director UK, Andre Keijsers, added: “We are proud that Clara-Pensions has selected Kempen to act as their fiduciary manager after an extensive selection process.

“It’s a partnership with a firm focus on the future, bolstering our position as one of the leading fiduciary managers in the UK market. It demonstrates that our fully customised fiduciary management with unremitting client focus resonates in the UK market.

“From day one, we have been impressed with what Clara are trying to achieve and the member first approach resonated with our approach and culture.

“We have been impressed by the length and depth of the due diligence process of Clara-Pensions, in fact the most demanding and detailed we have been through.

“This process showed that they truly wanted a partner which could deliver the rigorous requirements of Clara. We consider this a true partnership, that will leverage our extensive experience in pension consolidation.”

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