Trustees and pension fund sponsors are taking an increasingly sophisticated approach to investment. Our clients include the trustees or sponsors of pension funds with over £100billion of assets as well as major players in local government infrastructure pooling.
Our pensions investment practice includes market-leading specialists in financial services and markets, derivatives and structured products and investment funds. Our pension scheme clients need a full service law firm, but also one where all the lawyers have an acute awareness of the unique concerns and perspectives of pension scheme trustees, including in relation to risk appetite and governance.
Our pensions investment specialists advise on the full range of pension investment options, including liability driven investment (LDI) mandates, investment management agreements (IMAs), investment insurance policies, transition management agreements, fiduciary management, funds (regulated and unregulated, long-only, private equity and venture capital, infrastructure, debt, real estate, structured finance, hedge funds and listed funds), derivatives and repo, risk hedging, custody arrangements, clearing and collateral management and structured products and the impact of associated regulation.
Our team has deep expertise advising pensions investors but our experience is not confined to that. Their market-leading work for other financial market players (including asset managers) gives them an unrivalled perspective from which to advise our pensions clients. Despite this, we rarely run into conflicts.
We also advise our pension clients on all aspects of risk management, including security and contingent assets, guarantees and funding structures and buy-in and buy-out contracts and longevity transactions.
"Strengths of the team are their knowledge and experience and the ability to relate complex details to lay people."
- Negotiating investment management agreements for numerous multi-£billion schemes, for mandates ranging from plain-vanilla bonds to sophisticated structured portfolios, including on the imposition of hedging overlay mandates and repo mandates.
- Advising the trustees of pension schemes sponsored by HarperCollins, Sony, Maersk and News International on their appointments of fiduciary managers.
- Advising the Pensions Infrastructure Platform (PiP) established by PLSA and certain leading UK pension funds to encourage more UK infrastructure investments. This has included advising on PiP's internal structure and FCA approval, advising on the fundraising of PiP’s first dedicated fund (PiP Multi-Strategy Infrastructure LP) and advising on structuring requirements for PiP’s ongoing investment activity.
- Advising the trustees of the AWE pension scheme on the appointment of F&C Management Limited as investment manager to segregated LDI mandates.
- Advising GLIL Infrastructure LLP in relation to its further fund-raising round, which has increased its total deployable capital to £1.275billion.
- Advising trustees on mandates to managers to make commitments to other providers' pooled funds.
- Advising the ESAB pension scheme in relation to an insurance policy investment.
- Advising the trustees of the FCA pension scheme on appointing a suite of new managers.
- Advising several multi-£billion schemes on the negotiation of IMAs, ISDAs, GMRAs, clearing, collateral and security documentation.
As well as our pensions industry appointments we are appointed to a range of industry groups and bodies in the investment market, including:
Pension Scheme Investment: Is it always just about the money? - 30 June 2014