L&G Debuts UK-Leaning Private Markets Fund for Pension Plans

Legal & General Group Plc has launched a private markets fund that will invest heavily in UK assets to provide some pension plans access to the increasingly popular asset class.

The Private Markets Access Fund, which the London-based insurer has been working to kick off since 2022, is a fund of funds designed specifically for defined contribution plans, the company said in a statement on Monday.

The new strategy will be a multiasset portfolio and will include allocations to unlisted equities, with the ability to invest as high as 40% in UK assets, according to the statement.

The move is ...