Wales Pension Partnership appoints Russell Investments for private credit solution

London, 22 June 2022 — Global investment solutions provider Russell Investments today announced it has been appointed by the Wales Pension Partnership (WPP), the pooling entity for the eight Wales LGPS funds, to develop a private credit investment programme following a competitive tender process, run by bfinance and Carmarthenshire County Council (the host authority).

The appointment expands WPP’s existing partnership with Russell Investments, which was first appointed as WPP’s investment management solutions provider in 2018.

In managing WPP’s private credit solution, Russell Investments will leverage its strategic partnership with leading private markets investment management firm Hamilton Lane (NASDAQ: HLNE), which provides innovative solutions to institutional and private wealth investors around the world.

Russell Investments will construct and manage WPP’s private credit portfolio, with a focus on diversification across investment strategies, sectors and geographies over a series of vintages. The portfolio management team will utilise best-in-class closed-ended primary investment funds, secondaries and direct investments to enhance WPP’s strategic asset allocation. Particular focus will be placed on sustainability considerations to meet WPP’s long-term ESG goals.

The appointment builds on Russell Investments’ extensive experience managing private markets portfolios for the past four decades. Russell Investments and Hamilton Lane, which has been dedicated to private markets investing for over 30 years, manage private markets assets on behalf of some of the world’s largest institutions including major pension schemes and insurers.

Commenting on the appointment, Jim Leggate, Head of UK Institutional, Middle East & Africa at Russell Investments, said:

“Private markets are an increasingly critical part of the strategic asset allocation mix as investors look to access sophisticated strategies and markets to support their long-term return objectives. We are proud to expand our relationship with the Wales Pension Partnership, which now exceeds over £8 billion of WPP’s pooled assets across equities, fixed income and private markets portfolios. Working in tandem with our strategic partner, Hamilton Lane, we will collaborate with the eight constituent Authorities to develop a tailored and diversified private credit solution.”

Chris Moore, Carmarthenshire County Council, S151 officer of the Wales Pension Partnership, added:

“As investment markets become more complex, we realise that private markets will continue to play a vital role in helping our constituent authorities meet their long-term goals. The combined expertise of Russell Investments and Hamilton Lane offers a compelling private credit solution that can both deliver on our sustainability goals and provide value for money.”

About Russell Investments

Russell Investments is a leading global investment solutions firm with £247.8 billion in assets under management (as of 31/03/2022) for clients in 32 countries. The firm provides a wide range of investment capabilities to institutional investors, financial intermediaries, and individual investors around the world. Building on an 86-year legacy of continuous innovation to deliver exceptional value to clients, Russell Investments works every day to improve people’s financial security. Headquartered in Seattle, Russell Investments has offices in 19 cities around the world, including in London, New York, Tokyo and Shanghai.