Wealth Club has launched the UK’s first private markets personal pension, giving individuals access to asset classes such as alternative credit, venture capital, secondaries and infrastructure.
The Wealth Club’s Private Markets Self Invested Personal Pension (SIPP) will give UK individuals access to 12 funds from 10 managers across private equity, venture, multi-asset, secondaries, infrastructure and private credit.
This access will be from managers including Brookfield, CVC, ARK and EQT, with the potential for further offerings to be added.
“This is a great opportunity for experienced investors to add a slice of private markets to their pensions,” said Alex Davies, founder and chief executive of Wealth Club. “It marks a big shift in access to this part of the market, which has until recently been largely the preserve of institutions and the ultra-wealthy.”
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Wealth Club is a non-advisory investment service for high-net-worth investors, which has been offering private market funds to investors outside of a tax wrapper for just over a year.
Investors interested in the SIPP can make a lump-sum contribution of over £10,000, receiving up to 45 per cent income tax relief, or transfer funds from an existing pension without investing any new money.
The launch comes as the SIPP market is projected to hit £1tn by 2030, and amid jitters in the US wealth market, where BDCs have been hit by rising investor redemption requests.
On the launch of the SIPP, the Wealth Club said the semi-liquid funds are designed to limit investor withdrawals each quarter if they exceed a certain threshold, typically five per cent of a fund’s value. These funds are intended for long-term investors that do not require daily liquidity, the firm said.
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