News in brief - 28 January 2022

The Pension Insurance Corporation (PIC) has invested £130m in Wirral Waters One.

The investment will fund the broader development of Peel L&P’s Wirral Waters, a 500-acre brownfield site and farmer dockland. PIC is the sole investor for the development of a build-to-rent scheme, comprising 500 one-and two-bedroom apartments, alongside 100 affordable homes. It will use a long-term regeneration lease structure, and will generate the secure long-term cashflows to allow PIC to match its pension payments decades into the future.

Caceis has partnered with London CIV to provide cost transparency and benchmarking services.

The partnership will allow London CIV, which manages London local government pension scheme (LGPS) assets, to access a comprehensive cost transparency and benchmarking solution. Caceis will provide this by pulling cost data into a portfolio level, sub-fund level, asset class level and sub-asset class level view, with benchmarking across all these levels. Comparable benchmarking and fund level comparisons will also form a key part of value for money assessments. Caceis was selected to join the LGPS Framework for custody services in 2021, and also provides similar services for Brunel Pension Partnership.

PIC has invested £128m in low-carbon student accommodation for the University of Birmingham.

The investment will fund a 1,230 room low-carbon residential facility, to be achieved through solar photovoltaic panels where possible, along with direct electric heating. It is inflation-linked, and represents PIC’s first investment linked to consumer price index (CPI) in the sector. The deal uses a deferred drawdown structure, whereby the debt will be drawn down over three tranches during the construction period, maturing in 2069.

    Share Story:

Recent Stories


Are current roads into retirement delivering member value?
Laura Blows explores HSBC Master Trust’s recent report, Converting pension pots into incomes, with HSBC Retirement Services CEO, Alison Hatcher.

Savings and finance at retirement
Laura Blows is joined by Claire Felgate, Head of Global Consultant Relations, UK, at BlackRock, to discuss savings and finance at retirement. Please click here for an edited write-up of the video

Making pension engagement enjoyable through technology
Laura Blows speaks to Nick Hall, business development director and Chartered Financial Planner at UK-based Wealth Wizards about the opportunities that technology provides for increasing people’s engagement with pensions and increasing their retirement wealth. Please click here for an edited write-up of the video

Pension portfolios – the role of asset-backed securities
Laura Blows is joined by Royal London Asset Management (RLAM) head of sterling credit research, Martin Foden, and its Senior Fund Manager, Shalin Shah to discuss the role of asset-backed securities (ABS) within pension fund portfolios
Incorporating ESG into fixed income
Laura Blows is joined by TCW head of fixed income ESG, Jamie Franco, to discuss incorporating environmental, social and governance (ESG) strategies into fixed income portfolios