PIP builds exec team ahead of fund launch

The UK pension platform has made senior hires as it seeks to become a direct investor on behalf of its members.

The Pensions Infrastructure Platform (PIP), a group of UK pensions that aims to raise a total of £2 billion (€2.8 billion; $3.1 billion), has recruited its first investment director and chief operating officer (COO).

Ed Wilson, who is to assume the former role, will join from Lloyds’ commercial banking division. Having started at the UK lender in 2006, he first served as global head of the renewable energy, infrastructure and energy group, and for the last two years as head of infrastructure, energy and utilities, debt solutions and capital markets.

Paula Burgess, the PIP’s incoming chief operating officer, was most recently head of assurance at UK investment manager CCLA where she was responsible for the compliance, risk management and internal audit arrangements. She also spent more than 10 years at Russell Investments in a variety of compliance, risk management and regulatory roles.

The senior hires, which come little more than 10 months after PIP appointed Mike Weston as chief executive, mark the second and third steps in the platform’s endeavour to build its executive team.

They also come at a time when the organisation strives to beef up its resources as it gears up towards launching its first internally managed Multi Strategy Infrastructure Fund. The launch is pending authorisation by the UK’s Financial Conduct Authority, which PIP hopes to achieve during the third quarter of this year.

The platform’s previous funds are the Dalmore PPP Equity PIP Fund, which focuses on core infrastructure public-private partnerships (PPPs) and is managed by UK-based Dalmore Capital, and the Aviva Investors PIP Solar Photovoltaics Fund, a rooftop solar vehicle managed by Aviva Investors.

Last month, PIP announced having raised more than £1 billion since inception, comprising more than £500 million for the former, more than £130 million for the latter, and a co-investment in the Thames Tideway Tunnel, alongside Dalmore Capital, of more than £370 million.