ACCESS Pool, Essex, England has named Adams Street and HarbourVest as its private equity allocators, according to a news release.
Adams Street and HarbourVest will oversee a multiyear program whereby ACCESS members will have the ability to commit to on an ongoing basis over the term of the mandate.
For the first five years of the mandate, it is anticipated that the aggregate size of the annual commitments to both Adams Street and HarbourVest will be an average of £500 million ($646 million) or more each year. Considering the potential ultimate scale of the mandate, it is anticipated that total assets across all years for both allocators could exceed £5 billion, based on potential asset growth, and increases to individual authorities' target allocations.
ACCESS (A Collaboration of Central, Eastern and Southern Shires) is made up of local government pension schemes in England. As of Jan. 31 2025, ACCESS’ pooled assets totaled £52 billion.
The appointment of the two private equity allocators followed a tender put out in April, carried out as a two-stage restricted procedure, and follows recent allocations by ACCESS Pool to other areas of the private markets, including to infrastructure, social affordable housing and impact real estate.
“This (mandate) marks the third phase of our private markets program that has seen ACCESS steadily add private markets assets into its investable universe, the latest being a significant commitment to private equity through two market-leading investment partners in Adams Street and HarbourVest,” said Mark Kemp-Gee, chairman of the ACCESS joint committee, in a news release.
ACCESS also intends to establish its own investment management company, authorized by the U.K.’s Financial Conduct Authority.
