TEN-1920-027 - Direct unlisted infrastructure equity solutions

To access this tender opportunity please proceed to the following link:

https://nesttenders.bravosolution.co.uk/web/login.shtml

Since inception, Nest has delivered a high quality, low cost pension scheme available to all. Nest has not only delivered on its mission but has helped to drive up standards and best practices across the industry. At the time of publication, Nest has approximately 9 million members, over £9 billion in AUM and approximately 900,000 participating employers. Nest's expected net cash inflows in 2020 are expected to be in the region of £4-5 billion.

The current fund selection for Nest members comprises the Nest Retirement Date Funds (NRDFs); 47 single year target date funds which act as the default strategy, and six additional fund choices. Currently over 97% of all assets under management are in the NRDFs. Each Nest fund operates as a fund of funds investing in third party managed "building block" funds and separately management accounts. The Nest Trustee Members determine the asset allocation of the funds while external fund managers invest in a variety of specific asset classes.

Nest is now looking to add direct/unlisted infrastructure equity solutions to the range of building blocks.

Infrastructure equity will be an important asset class for the NRDFs and may also be used within our other fund options if certain criteria are met. Further details of all these funds may be found on our website: http://www.Nestpensions.org.uk/schemeweb/NestWeb/public/whatisNest/contents/investment-approach.html

Nest's eventual allocation to this asset class will be highly dependent on the fees we secure; however, from an unconstrained perspective we can envisage allocating 5-10% of the scheme's total AUM, depending on market conditions over time.