Energy company Uniper hired Kempen Capital Management as fiduciary manager to run the assets of the Uniper Group of the Electricity Supply Pension Scheme, Coventry, England, a spokeswoman at the company confirmed.
Kempen will manage £570 million ($790 million) in assets, taking over from Aon, the previous fiduciary manager.
Kempen will work with trustees to implement investment strategy and achieve the pension plan's funding objectives.
U.K. consultant Barnett Waddingham assisted the plan with its selection process, which took place between December last year and May this year.
"It was interesting to see the breadth and variety of approaches to fiduciary management, and consistently Kempen stood out as being dynamic, flexible to our scheme's particular attributes and extremely helpful to the, mainly lay, trustee board in understanding investment terminology and utilizing plain language," said Peter Langdon, trustee executive at U.K. independent trustee firm BESTrustees and independent trustee to the Uniper pension fund, in a news release Thursday.