Keep pulling the thread on Merryn Talks Money.
The UK pension scheme Nest has a public target to allocate 30% of its assets under management to private assets by 2030.
The UK's Mansion House reforms propose that pension funds must allocate 10% of their assets under management to unlisted assets.
The UK's Mansion House reforms propose that at least half of the mandated 10% allocation to unlisted assets, equivalent to 5% of total AUM, must be invested in UK-related assets.
The UK's publicly supported pension scheme, Nest, has 13.9 million members.
The UK pension scheme Nest has £61.2 billion in assets under management.
UK pension scheme Nest has committed £450 million to the US private credit sector.
The UK pension scheme Nest has a public commitment to achieve a net-zero investment portfolio.
John Steffek believes that private credit and ESG investing are fads whose time has arguably passed.
The Nest Retirement Date Fund for 2050 has a 42.5% allocation to climate-aware global developed equities.
The Nest Retirement Date Fund for 2050 has allocations of 3.7% to private credit, 3.2% to infrastructure equity, and 4.4% to private equity.
According to a recent Citywire article, Nest's overall allocation to private assets has already reached 15% of its total AUM.
Nest's default pension funds lack an obvious and direct allocation specifically to UK equities.