Cleveland & Co Associates Limited (“Cleveland & Co”) has been appointed by Border to Coast Pensions Partnership (“Border to Coast”), one of the largest public sector pension pools in the UK, to provide external legal support services to its Alternatives Platform, which is expected to grow to over £5bn over the next 3 to 5 years.
Border to Coast’s Private Markets structure was originally launched in May 2019 to capture the benefits of pooling for its LGPS Partner Funds. These include economies of scale, increased resources for due diligence, and access to a wider range of investments including co-investments. The aim is to enhance risk-adjusted, net of fees returns from Private Market investments over the long term.
Cleveland & Co has been appointed to provide Border to Coast with advice in respect of the investments to be acquired by Border to Coast across the Private Markets platform covering private equity, infrastructure, and private credit . Cleveland & Co will be reviewing all investment documentation throughout the life cycle of each investment, advising on legacy transfers and secondary sales, and generally providing support and guidance to the private markets investment team. Cleveland & Co will also provide training to facilitate knowledge transfer to the legal and investment teams. The initial contract is for 3 years.
Mark Lyon, Head of Internal Management at Border to Coast, said: “Cleveland & Co’s depth and breadth across alternative assets covering private equity, infrastructure and private credit makes them the ideal external legal partner to advise on our Alternatives portfolio.”
Emma Cleveland, CEO of Cleveland & Co commented, “We are thrilled to have been appointed by Border to Coast to provide legal support for their alternatives platform after such a vigorous procurement process. The team at Border to Coast are great, and we are excited to be working with them in the years to come.”