BlackRock Wins Fiduciary Management Mandate from U.K. Power Networks Group of the Electricity Supply Pension Scheme
Posted on 11/27/2019
U.K. Power Networks Group of the Electricity Supply Pension Scheme awarded BlackRock a fiduciary management mandate. The pension scheme is based in Peterborough, United Kingdom and has £4 billion in assets. BlackRock replaces investment advisor Cardano.
“We were seeking a partner who could help us design and manage an investment strategy aligned to our funding objectives. Throughout the tender process, BlackRock gave us confidence that we could trust them to be our long-term partner,” said Michele Hirons-Wood, head of pensions, in a media release.