Pension Scheme Investment in Illiquid Assets – Case Studies from the Pensions Sector

The subject of illiquid investments by the UK pensions sector has had a high profile in policy and media debate over the last year. 

Understandably, this debate has not always reflected the high level of such investing already underway by many schemes, nor the willingness of the pension sector to explore how illiquids can contribute to their investment goals.

This report sets out case studies from 10 public and private sector schemes – Local Government Pension Scheme (LGPS) funds, Defined benefit (DB) schemes, Defined Contribution (DC) schemes and DC Master Trusts - with the aim to provide information for pension managers, trustees and policymakers on how pension schemes invest in this asset category and the issues to be considered when making these commitments.