The defined benefit plan of Tesco PLC, Cheshunt, England, has become the latest investor in the U.K.’s Pensions Infrastructure Platform, said Ruston Smith, Tesco’s group pensions director.
Mr. Smith announced the £8.4 billion ($12.6 billion) pension fund’s investment Wednesday at the National Association of Pension Funds annual investment conference, held in Edinburgh.
“I’m pleased to say that my scheme has become the latest pension fund to become an investor in the PIP,” said Mr. Smith, who also is the NAPF chairman.
He did not disclose the size of the investment, and a spokeswoman for Tesco was not available to comment by press time. Executives at the PIP could not be reached for comment.
The PIP is a pension fund-led initiative to make infrastructure investment more accessible. It counts the £20 billion Pension Protection Fund, London, among its investors.
