Britannia Pension Scheme has completed the sale of a private credit fund exposure using the Isio’s Fund Liquidity Options (i-FLO) platform.
This is the first of Isio’s clients to complete their transaction on this platform, which is designed to enable investors to sell illiquid assets more efficiently.
Britannia Pension Scheme used the platform to sell a £72 million investment in a private credit fund on the secondary market.
i-FLO was launched following significant demand from pension schemes to sell illiquid assets, combined with the challenges of doing so at competitive prices and fee levels and in a timely manner.
Pension schemes relying on traditional routes to sell illiquid assets can find the process to be costly and inefficient, particularly in private credit and infrastructure equity markets.
Britannia Pension Scheme chose Isio following a thorough evaluation process, identifying i-FLO’s competitive pricing, efficient execution, and transparency as key factors.
The platform’s significantly lower fees compared to traditional approaches of selling illiquid assets played an important role in the decision.
Isio head of asset class and manager research Ajith Nair says: “It’s exciting to see our first deal formally complete and settle. Our strategy of focusing on high-quality buyers to generate value for our clients has proven successful, with Britannia Pension Scheme achieving highly competitive pricing, along with significant fee savings versus the traditional route.
“The i-FLO platform pipeline remains busy, with several deals nearing completion. And e look forward to welcoming other investors to the platform.”
John Hope, chair of Britannia Pension Scheme’s investment & funding committee adds: “We’re pleased to have used the i-FLO platform to sell an illiquid private credit LP interest.
“The streamlined process and clear communication provided by the Isio team have been invaluable and this stands the scheme in good stead as the trustee continues to manage the scheme’s assets effectively and deliver security for members’ benefits”.
