One of Britain’s most prominent pensions industry entrepreneurs is to list a new vehicle aimed at attracting illiquid assets held in retirement schemes.
Sky News understands that Long Term Assets, a Guernsey-based investment company established by Edi Truell, will announce on Friday its intention to float on the specialist funds segment of the London Stock Exchange.
The company will invest in a portfolio of assets largely comprising infrastructure, sustainable resources and private investments.
Among its existing holdings are stakes in Atlantic SuperConnection, a renewable energy infrastructure project; Telent, a UK-based fibre-optic and telecoms installation, operation and maintenance firm; and ViroCell, which designs and manufactures cell and gene therapy viral vectors.
The LTA portfolio is said to have been valued recently at roughly £160m.
One insider said the company’s ability to accept a wide range of private markets assets in exchange for shares was likely to appeal to pension funds seeking to improve the liquidity of their portfolios in the wake of the recent crisis which hit the industry.
Through his private equity firm, Disruptive Capital, Mr Truell has backed what he believes is a portfolio of “disruptive” companies that will become pivotal in a fast-changing global economy.
LTA’s board is chaired by Michelle McGregor-Smith, the former boss of the £27bn British Airways Pension Scheme.
Mr Truell, a pensions adviser to Boris Johnson during the latter’s tenure as mayor of London, helped to establish Pension Insurance Corporation, the specialist pensions insurer.
LTA could not be reached for comment on Thursday.