Resources Contact us Search Login About us What we do How we do it Financials Events The Purpose of Finance Media Home How we do it Asset and Liability Management Infrastructure investment HOW WE DO IT Share INFRASTRUCTURE INVESTMENT We have a majority of our portfolio invested in investment grade corporate bonds, UK government debt and cash. However, in a continued low growth, low return environment it is important that we are able to source and invest in opportunities that provide us with investment grade, inflation linked, long term cash-flows. A good example of this is infrastructure debt. PIC has built an internal team which now has a very strong track record in sourcing and investing directly in infrastructure debt and the private debt markets more widely. Amongst other investments, in 2015 we invested £75 million in debt issued by Virgin Atlantic Airways, secured on its portfolio of landing slots at Heathrow, the first time this type of transaction has been completed. We have also invested £70 million in debt ultimately issued by the Church of England Pension Board (see case study below). Previous investments in this area include investing in the first European solar bond, as well as social housing, hospitals, schools and student accommodation. In effect this means our business is moving capital efficiently through the economy, putting it to work where it can best support jobs and growth. It’s a great example of socially useful capitalism. “Pension buyout firm PIC is among a handful of institutional investors…that have blazed the trail by providing debt to greenfield projects.” PIC planning on more infra debt investments, Michael Pooler, Infrastructure Journal We are always happy to discuss potential opportunities. For further information, please call: Allen Twyning Head of Debt Origination 0207 105 2232 INVESTING IN CHURCH OF ENGLAND HOUSING In September 2015 PIC lent £70 million to the Church of England Pensions Board, which operates the Church’s retired-housing scheme, a new source of long-term financing for the scheme. The bond was the first ever Sterling issue with the coupon but not the principal linked to CPI and represented a step forward in the CPI linked bond market. PIC has a strong track record of investing in transactions that meet our need for high levels of security, are a match for our liabilities and which are ground-breaking in nature. One of PIC's CofE housing investments Home Sitemap Privacy policy Terms of use Cookie Policy Making a complaint Manage cookie preferences © Copyright 2021 Pension Insurance Corporation plc by Emperor Pension Insurance Corporation plc is registered in England and Wales under company number 05706720. It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (FRN 454345). Its registered office is at 14 Cornhill, London EC3V 3ND. PIC is proud to hold a range of industry awards and accreditations. See our latest awards. Our use of cookies Our website uses ‘necessary cookies’ to make it work. To help us understand the information you’re most interested in and improve our website, we’d like to use ‘optional cookies’ but only if you allow this. Our ‘Manage cookie preferences’ tool gives you control over the types of cookies used when you visit our website; you can use the ‘Manage cookie preferences’ link at the bottom of any page on the website to review or update your cookie preferences. For more detailed information about the cookies we use, please visit our Cookies page. Accept all cookies Manage cookie preferences >