XPS Group’s trading solution, Xchange, has facilitated over £330 million worth of deals for pension schemes trading illiquid assets on the secondary market.
XPS has been helping schemes trade these types of assets since 2021, with the formal launch of XPS Xchange in August 2024. The platform aims to make it easier for schemes to buy and sell hard-to-trade assets like private equity and private credit.
Last month, XPS Xchange helped Dalriada Trustees sell a £5 million private equity holding, an asset often difficult to sell due to its low Net Asset Value. It also supported another scheme in buying a private credit portfolio, helping to reduce its deficit and boost long-term returns.
XPS says the success of Xchange is driven by its strong network of brokers, legal advisers, and market specialists, including Setter Capital and Morgan Lewis.
XPS Group head of XPS Xchange James Kidd says: “The Pension Schemes Bill, which was put before Parliament last month, has put renewed emphasis on productive investment strategies and long-term surplus creation. This means that pension schemes are under increasing pressure to manage illiquid assets more strategically. XPS Xchange was created to help trustees unlock illiquid assets of any class or size, assets which have historically hindered strategic investment decisions. Working across two key transactions last month, for a buyer and a seller, highlights just how effective the platform is in achieving this brief.”
Dalriada Trustees professional trustee Gregor Law says: “The XPS Xchange team stand out for us in this space because of their excellent project management of secondary trades. Their team worked seamlessly with the day-to-day investment consulting team, and with the support of the Morgan Lewis and Setter Capital teams. There was an added element of time pressure to complete our transaction by the end of June, but XPS and the advisors worked diligently to talk the trustee through and agree the Purchase and Sale Agreement, transfer agreement and tax certifications.”
