- The strategic case for private credit is changing, as LPs look at broader risks and GPs tie up with pension risk insurers to boost their origination engines
Top stories
Standard Life acquires Aegon to create £480bn powerhouse
Transaction establishes Standard Life as UK’s second largest workplace pensions platform by assets, adding £74bn assets under administration and 2.1 million customers
Swedish pension giants back Stegra lifeline, but accept dilution
Wallenberg-led consortium steps in as green steel startup’s biggest investor, and pension funds AP2, AP4 and AMF all put in more capital
Germany’s pension reform to intensify competition and reshape market dynamics
DWS expects fierce competition and warns against state role following Germany’s third pillar pension reform rollout
Dutch pension funds hedge equity exposure in run-up to Iran war
Pension funds Foodservice, DHL and Gasunie hedge equities ahead of DC transition in the Netherlands, but strategies diverge sharply amid geopolitical volatility
MSCI overhauls climate index rules to address investor concerns
Climate Paris Aligned Benchmarks will no longer consider climate value at risk, transition scores or net-zero targets
Allianz develops climate adaptation taxonomy to clarify investability
Insurer classified 61 measures, paying close attention to extent to which benefits can be captured by private actors
Europe’s strategic recalibration: the case for diversification
The US shift towards mercantilism warrants a serious reconsideration of asset allocation decisions by European institutional investors
Guy Gresham: “Political risk once arrived as a shock. Increasingly, it arrives embedded in the rules themselves”
Policy decisions in the US and Europe are no longer simply arriving as market events. Instead, they are increasingly reshaping the rules that govern ownership, transactions, benchmark classification and capital allocation.
“There is more to European private credit than meets the eye”
Despite the frequent grievances about the poor development of European capital markets, a plethora of non-bank lenders, backed by Europe’s institutional investors, are working hard to provide European businesses with the capital they need to grow and innovate.
APG adjusts executive renumeration policy after €1m CEO severance pay
In the future, salaries of the pension asset manager’s executive board will be more in line with those of its main client and owner, civil service scheme ABP
People moves: NBIM names new chief risk officer
Norges Bank Investment Management, Smart Pensions, Santander Alternative Investments, Generali Asset Management, H.I.G.
People moves: Ireland’s Pensions Authority names chair
Fiona Tierney was appointed for a five-year term, taking over from David Begg, who has been chair since January 2016
Germany’s pension reform to intensify competition and reshape market dynamics
DWS expects fierce competition and warns against state role following Germany’s third pillar pension reform rollout
Viewpoint: Efforts to raise trustee standards must preserve what works
Morten Nilsson of Brightwell Pensions on avoiding the onerous requirements that could further shrink the pool of lay trustees
Asset pooling gains traction as German Pensionskassen consolidate
German Pensionskassen increasingly pool assets and consolidate as costs, regulation and structural pressures intensify
Investors grapple with corporate climate lobbying amid sustainability pullback
More investors may be seeing the importance of scrutinising corporate lobbying, but they now have to face European companies reining in sustainability ambitions
Private credit’s façade of liquidity is beginning to fracture
The retailisation of private credit has broad implications for the functioning of this growing market
ABP CIO Herman Bril: I understand fossil fuel investors
The new CIO also talks about cutting its US Treasuries exposure and playing for ‘Team NL’
Compenswiss adapts investment strategy to changing outlook for Swiss social security
Frank Juliano, chief investment strategist at Compenswiss, talks about the fund’s new asset allocation choices, as the outlooks of the three social security funds managed by the organisation diverge
Pushing green boundaries in credit
Daniel Spencer, portfolio manager at Brunel Pension Partnership, explains how a lack of responsible investment tools spurred the UK pool to develop its own products and processes in areas like multi-asset credit
Listed equities: Beyond the Magnificent Seven, betting on the future of AI
America’s tech giants not only dominate equity indices; they are breaking records for capital expenditure on AI. How are European pension funds approaching their allocation to the Mag 7?
Kate El-Hillow, Russell Investments: “You don’t want things in silos”
Kate El-Hillow, president and CIO of Russell Investments, tells Carlo Svaluto Moreolo about competing in fiduciary management, private markets and total portfolio allocation
IPE Magazine March/April 2026
Read the latest issue of IPE Magazine
Browse the digital edition and find highlights from this month's issue below
Digital edition of IPE magazine
March/April Highlights
Soil carbon has emerged as a legitimate asset class
The announcement in January that Microsoft has made a commitment to purchase 2.85m soil carbon removal credits from Indigo Carbon PBC over a period of 12 years suggests that something fundamental has changed in the soil carbon credits market.
European private credit: From niche to mainstream
The strategic case for European private credit remains strong but is evolving
Emerging market equities: Outshining their advanced economy peers
Dollar weakness and AI capex spend combine as developing economies outperform despite tariff headwinds
Pushing green boundaries in credit
Daniel Spencer, portfolio manager at Brunel Pension Partnership, explains how a lack of responsible investment tools spurred the UK pool to develop its own products and processes in areas like multi-asset credit
Listed equities: Beyond the Magnificent Seven, betting on the future of AI
America’s tech giants not only dominate equity indices; they are breaking records for capital expenditure on AI. How are European pension funds approaching their allocation to the Mag 7?
Asian sovereign bonds gain appeal as investors seek diversification
Sovereign issuers from Asian developed and emerging economies are attracting capital flows from global investors
Charts watch: supply chain pressures, US Treasury market, EU unemployment
Volatility has taken hold of the US Treasury market, but inflation forecasts are not moving upwards so far
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