Tesco Pension Appoints Kuwait Alternatives Specialist

(June 2, 2014) — Tesco Pension Investment has appointed a former private equity, debt and alternatives specialist at the Kuwaiti sovereign wealth fund to enhance its alternatives coverage, aiCIO has learned.

Stuart Lanigan, who spent five months at the Kuwait Investment Authority’s London bureau, the Kuwait Investment Office, is to join the in-house asset management team of the Tesco pension this summer, the supermarket chain confirmed.

Lanigan is to join the pension’s growing internal alternatives team to create a more holistic approach to the asset class and enable the £8 billion fund to seek out more investments in the sector.

Tesco has been rapidly building an in-house team since acquiring approval to run its own money from the Financial Services Authority in March 2012, following the appointment of CIO Steven Daniels towards the end of 2011.

Over the past two years it has taken on staff with experience at fund manager houses including F&C Asset Management, Natixis, and Threadneedle Investments.

Lanigan, the latest hire, worked for more than 20 years in various departments at RBS, concentrating on private equity, leveraged finance, and other areas of corporate banking.

For an in-depth look at the recent evolution of the Tesco Pension sign up for the June edition of aiCIO, published this month.

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