RPMI Railpen, the asset manager for the UK Railways Pension Fund, has teamed up with public sector funds Alaska Permanent Fund (APFC) and Public Institution for Social Security of Kuwait (PIFSS) to create a new alternatives investment management joint venture (JV).

The JV, dubbed Capital Constellation, will offer investment capital and initial fundraising support to private equity and alternatives managers.

Constellation intends to deploy over $1.5bn in the next five years. The three founders have committed $700m to the JV.

Railpen investment director and Constellation founding board member Paul Bishop said: “We believe Constellation provides us unmatched access to the next generation of successful alternatives managers, and will be a source of long-term returns that will help us achieve our mission to pay members’ pensions securely, affordably and sustainably.”

Constellation will be advised by Wafra, a PIFSS-owned investment firm with over $20bn in assets.

Constellation has already agreed to invest $100m into Astra Capital Management, a private equity manager focusing on growth buyouts in the communications and technology services sectors.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Wafra managing director and Constellation president Daniel Adamson said: “We have already begun supporting Astra as a strategic partner across three continents, working closely with Mark, Bill, Kevin, Todd, Matt and the rest of their investment partners to help them realize their long-term goals.”