Travers Smith LLP advised longstanding client Nest Corporation – the trustee of the National Employment Savings Trust – on the acquisition of a ten percent shareholding in Industry Super Holdings, the holding company of IFM Investors, a global institutional investor and asset manager operating across the infrastructure, debt investments and private equity markets.
The investment and strategic partnership is set to support Nest’s ambition to diversify and increase the scheme's allocations to private market assets over the coming years. Together, Nest and IFM expect to capitalise on significant UK private market investments and unlock new investment opportunities across the globe. Nest's ambition is to invest around £5 billion through IFM by 2030. We are pleased to support Nest in its mission to make investments which boost members' risk-adjusted returns and help members build a more secure retirement.
Mark Fawcett, CEO of Nest Invest, commented: “Nest is proud to be recognised as an international player within the global pensions industry. By joining forces with IFM, one of the world’s leading infrastructure managers, we are taking a crucial step towards our goal of investing 30% of our assets under management (AUM) into private markets by 2030. 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."
Clients engaged in transactions such as this require holistic advice and a multi-disciplinary team. At Travers Smith, this project was a collaboration between partners Victoria Bramall, Phil Bartram, Jeremy Elmore and Elena Rowlands. The team also included Private Equity and Financial Sponsors Senior Associate Stuart Allan and Associate James Jankowski and Funds Senior Counsel Sarah Stewart. Specialist Tax advice was provided by Senior Associate Aimee Hutchinson. Other specialist advice on regulatory aspects of the transaction was provided by client relationship partner David James, senior associate Alex Economides and partners Samuel Brewer, Nigel Seay and Stephen Whitfield.
Nest were also advised by Tim Gordon and Wes Bainbridge of Australian law firm, Gilbert & Tobin.
