The UK’s Pensions Infrastructure Project (PIP) has hired its first investment professional as it gears up to run its own funds for institutional investors.
The PIP—which is owned by the National Association of Pension Funds (NAPF) and counts a number of public and private sector pensions among its investors—hired Ed Wilson as investment director from Lloyds Commercial Banking.
At Lloyds, Wilson was head of infrastructure, energy and utilities, debt solutions, and capital markets. He joined Lloyds in 2006 as global head of renewable energy.
In addition, Paula Burgess has been appointed as chief operating officer, having previously worked as head of assurance at CCLA since late 2011. Prior to this role, she was responsible for risk management and compliance at Russell Investments.
The PIP was founded in 2011 following negotiations between the UK government and the NAPF to boost funding for local infrastructure. However, it took three years before its first appointment: Mike Weston, formerly of the Daily Mail & General Trust, joined as chief executive in 2014.
The platform has raised £1 billion ($1.6 billion) in two investment funds, and intends to build capability to make direct infrastructure investments.
In a statement announcing the appointments, the PIP said it intended to launch a “Multi Strategy Infrastructure Fund” once it has gained permission from the Financial Conduct Authority, the UK regulator.
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