TPT Investment Management (TPTIM) has launched a £650m Private Credit Fund for UK pension schemes, seeded with capital from TPT Retirement Solutions' (TPT) defined benefit (DB) master trust.

The fund has £650m in assets invested in a broad spectrum of private investment opportunities across the credit market.

In addition to this, it contains a diverse range of risk premia not readily available to smaller schemes.

This was the largest fund launch since TPTIM’s creation in 2023 and the third in a series of seven planned launches.

The collective investment vehicles were designed to provide schemes with access to a wide range of investment strategies, enabling schemes joining TPT to achieve scale benefits across asset classes by aggregating with the assets in the master trust.

This approach aims to build on the model of scheme consolidation to benefit corporate pension schemes.

TPTIM funds can be accessed through its fiduciary management service via the DB connect proposition, allowing third-party trustees to access TPT’s expertise while retaining the trusteeship of their scheme.

Commenting on the launch, TPTIM private credit fund portfolio manager, Simon Moss, said: “Our latest in the series of new fund launches will continue to broaden our schemes’ access to a diversified range of assets.

“This fund will allow schemes to benefit from asset pooling and investment types that would not necessarily be available to smaller, stand-alone schemes.

“The experience of our investment team and alignment of interests with our ownership will allow us to continue to pass these benefits onto other trustees and schemes.”

---