Border to Coast Pensions Partnership, Leeds, England, hired Albourne Partners to provide due diligence and portfolio construction support for its £1.2 billion ($1.6 billion) alternative allocations.
Albourne Partners will provide investment and operational due diligence support, market and strategy research and portfolio construction support, according to a notice on European procurement website Tenders Electronic Daily. The firm will also provide analytics for portfolio monitoring, analysis, cash flow forecasting, client reporting, compliance monitoring support and co-investment due diligence support to Border to Coast.
The initial allocation is split between infrastructure, at £675 million, and private equity, at £500 million. The initial allocation total of almost £1.2 billion is expected to increase to about £5 billion over the next three to five years, the notice said. The £45 billion pension fund announced in July 2019 it will invest up to £10 billion over the long term in private equity and infrastructure.
The RFP was issued in August 2019. Additional details were not immediately available.