UK pension fund Nest has acquired a 10% ownership stake in global institutional asset manager IFM Investors. In a joint press release, the companies said that the new investment will help strengthen IFM’s infrastructure, debt and private equity capabilities, with a key focus on new opportunities in the UK. At the same time, the strategic partnership will support Nest’s ambition to diversify and increase its allocations to private market assets to 30%. Commenting on the announcement, Mark Fawcett, CEO of Nest Invest, said: “We’re excited to leverage IFM’s expertise and scale to unlock more private market opportunities that can drive stronger and more impactful returns for our members.” David Neal, IFM Investor’s Chief Executive, added: “Nest will support IFM’s further expansion into new investment opportunities and markets across the globe, bringing UK expertise into IFM’s ownership group, as we seek to give pension fund members greater access to global markets that have the potential to deliver risk-adjusted returns for their retirement.” With over 13.7 million members, Nest is now the largest workplace pension scheme in the UK, safeguarding over £48 billion (US$60 billion) assets on members’ behalf. IFM Investors is owned by Australian pension funds and over the past 30 years has grown to A$230 billion (US$144.3 billion) assets under management (as of 31 December 2024).
