Federated Hermes, Inc. and BT Pension Scheme announce $1 billion private equity mandate
PITTSBURGH, May 17, 2022 /PRNewswire/ -- Federated Hermes, Inc. (NYSE: FHI), a global leader in active, responsible investing, has been awarded
The mandate, called Horizon III, will be managed by Hermes GPE LLP, a specialist global private equity investor and wholly owned subsidiary of Federated Hermes, and will be invested over three years.
Horizon III will pursue the global thematically diversified strategy through a proven 50/50 funds and direct co-investment model established following similarly sized investment allocations managed for BTPS — Horizon I (2015) and Horizon II (2018).
Hermes GPE has invested more than
J. Christopher Donahue, president and chief executive officer at Federated Hermes commented: "BTPS is an important customer across our private markets platform and the Horizon III mandate demonstrates BTPS's continued confidence in the ability of Federated Hermes to deliver its investment objectives in a very competitive global private equity market.
"As Federated Hermes continues to invest in its private markets business, which includes private equity, real estate, private debt and infrastructure, we recognize its importance to customers around the globe."
Morten Nilsson, chief executive officer for BT Pension Scheme Management commented: "The Horizon mandates have delivered consistent, sustainable returns for the Scheme throughout market cycles. Horizon III demonstrates our continued commitment to this asset class with investments that meet our long-term sustainability goals."
Peter Gale, chief investment officer and head of Hermes GPE, commented: "We have been constructing private equity portfolios for BTPS since the 2000s, which showcases our pension scheme roots. Our dynamic investment approach combines top-down macroeconomic considerations with bottom-up detailed research that clearly resonates with BTPS and we work closely with its investment team to ensure private equity plays an effective role in the Scheme's asset allocation strategy."
Similar to prior investments by BTPS and other investors, the value of investments can vary over time due to additional investment, redemptions or market fluctuations in the value of portfolio holdings over time.
Notes to editors
Federated Hermes, Inc. is a global leader in active, responsible investment management, with
Hermes GPE is the private equity arm of Federated Hermes. We are an active and long-time investor in global private equity, with a track record which spans over 30 years. We focus on fund investments and co-investments in mid-market buyouts and growth businesses, currently managing c
BT Pension Scheme is one of the UK's largest corporate defined benefit pension schemes with assets of
This press release is issued and approved by BT Pension Scheme Limited of 1 America Square, 17 Crosswall, London EC3N 2LB. This document is not an offer to sell or an invitation to apply for any product or service of BTPSM Limited.
Certain statements in this press release, such as those related to growth opportunities for investing in Federated Hermes' private markets business constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the company, or industry results, to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Other risks and uncertainties include those discussed in the company's annual and quarterly reports as filed with the Securities and Exchange Commission. As a result, no assurance can be given as to future results, levels of activity, performance or achievements, and neither the company nor any other person assumes responsibility for the accuracy and completeness of such statements in the future.
View original content:https://www.prnewswire.com/news-releases/federated-hermes-inc-and-bt-pension-scheme-announce-1-billion-private-equity-mandate-301548839.html
SOURCE Federated Hermes, Inc.