Welcome to the Private Markets Focus hosted by Professional Pensions. Please ensure you arrive with plenty of time to get settled and enjoy some refreshments before the opening remarks commence!

Through the Mansion House accords and the governments push towards productive finance, the UK is seeking to reignite growth and strengthen domestic investment, placing pension capital firmly at the centre of the policy conversation.

This session examines the UK’s growth plan through a pensions lens, exploring how policy ambitions are reshaping expectations of pension capital, the role private markets are expected to play and how scheme objectives can align with the wider growth agenda. It sets the macro and strategic context for the day, framing the role pensions are expected to play in supporting the UK’s economic future.

This session will address:

• The policy objectives shaping the Mansion House accords and why pension capital has moved to the centre of the productive finance agenda
• The role private markets are expected to play in supporting long-term UK economic growth
• Where policy ambitions intersect with scheme objectives and potential structural barriers
• The growing tension between political ambition and fiduciary duty
• What can be expected for the future direction of pensions positioning within the UK’s growth plan
  

Private Market can play a valuable role in long-term portfolios, but they require a different approach to thinking about governance, liquidity and risk. This session is designed to help trustees and scheme decision-makers understand what “being ready” for private markets really means in practice.

The discussion will explore how governance provides the foundation for engaging with less liquid assets, how liquidity considerations shape portfolio construction and risk oversight and the structural considerations when translating strategy into implementation. Gain clarity and confidence, to enable your scheme to engage with and harness the opportunities of private markets.

This session will address:

• Why strong governance is the foundation of successful private market investing, and how governance capabilities evolve as portfolios move towards less liquid assets
• How trustees can plan for longer investment horizons, constrained exits and changing cashflow profiles
• How risk management approaches adapt in a private market context, including liquidity stress testing, valuation oversight and alignment with cashflow-driven investing
• The specific structural considerations for DC schemes (i.e. daily pricing, liquidity, easy rebalancing) – and how vehicles like LTAFs are being used to help manage these constraints

Private Equity remains a core growth allocation within pension portfolios, providing access to opportunities beyond listed markets. In the current environment, there is increased focus on where private equity is deploying capital and how long-term value is being created.

This session examines the areas of the market attracting investment today, the strategies underpinning sustainable growth and how private equity supports portfolio objectives over time. Drawing on market insight, the discussion highlights how private equity continues to evolve and why it remains a relevant component of long-term pension investment strategies.

This session will address:

• How private equity supports long-term growth objectives within pension portfolios
• Where private equity is currently deploying capital and the areas of the market attracting investment
• How structural trends and innovation are shaping the current private equity opportunity set
• How private equity builds value over time through active ownership and long-term development

An ideal opportunity to connect with fellow trustees and relish refreshments, for first class company and a second to none experience!

As interest in productive finance continues to grow, attention has increasingly turned to how pension capital can support innovation and business growth in a proportionate and investable way. Rather than early-stage start-up investing, institutional engagement with venture capital is increasingly focused on later-stage and growth capital, where companies are scaling proven business models and expanding productivity.

This session explores how venture and growth capital are being approached, including how investors are assessing opportunities across global and UK markets, and how this form of investment aligns with long-term horizons and fiduciary decision-making.

This session will address:

• Early-stage venture vs growth capital - why the distinction matters for pension portfolios
• How growth-oriented venture strategies support the scaling of established, high-growth businesses, including UK opportunities
• Where pension capital typically engages within the venture spectrum, in terms of stage, sector and maturity
• How venture and growth capital complement private equity within a diversified private markets allocation
• Why venture and growth capital are usually approached as selective, capped exposures aligned with long-term horizons

Infrastructure remains a core allocation for pension schemes, valued for long-term income, resilience and predictable cashflows. Within the asset class, investor capital is increasingly concentrating in two areas: energy infrastructure, spanning both traditional generation and renewables, and digital infrastructure, including data centres, cloud infrastructure and AI computing facilities.

This session examines why pension schemes are allocating to these areas, how they align with long-term scheme objectives, and what this of capital signals for infrastructure allocations within pension portfolios going forward.

This session will address:

• Why pension capital is concentrating in energy infrastructure
• What the allocations of energy infrastructure consist of in practice, looking at traditional and renewable energy assets
• The rise of digital infrastructure investment
• What the allocations of digital infrastructure consist of in practice, such as data centres, cloud infrastructure and AI
• What the concentration of pension capital in these areas reveals about the current shape of infrastructure investing
  

As private markets become more firmly embedded in scheme strategy, trustees are increasingly required to exercise judgement in areas where there are no straightforward answers.

Drawing together the themes of the day, this panel brings together experienced voices to create space for reflection and shared insight to consider how judgement, context and confidence shape decision-making at this stage of the journey.

This session will address:

• Private markets moving from discussion into implementation, and what is driving the different pace of engagement seen across schemes
• How are trustees interpreting policy direction, while ensuring fiduciary responsibility and scheme objectives remain central to decision-making?
• To what extent is peer activity and wider market practice influencing confidence and timing with private market decisions?
• How are schemes thinking about risk in practice, particularly deploying available risk budget over long time horizons?
• Where trustees expect debate and focus to intensify as private markets become more established within portfolios
• How success in private markets may be defined in different ways across schemes
  

This is your chance to mingle, connect, and replenish your energy amidst the Private Markets Focus' vibrant atmosphere. Join us in savouring a spread prepared to elevate your midday experience. Whether you're networking, sharing insights, or simply taking a moment to unwind; Take a plate, and enjoy!