Willis Towers Watson (WTW) has submitted an application to launch an LTAF focusing exclusively on private equity.
The CG WTW Private Equity Access LTAF (Peal) will be managed by Carne Global Fund Managers.
WTW said the fund has received an initial £450m seed money ahead of its launch. The launch is subject to regulatory approval, expected in the second half of the year.
See also: Should retail investors be given access to LTAFs?
Ben Leach, head of private market solutions in WTW’s investments business, said: “The launch of Peal is hugely exciting for investors and is the culmination of three years of development work.
“Crucially for end savers looking to grow their wealth, they will now be able to access dedicated private equity exposure through a regulated pooled fund structure, the first of its kind in the market.”
The LTAF structure, introduced in 2021 by the FCA, was designed to invest efficiently in long-term illiquid assets.
Back in February, Schroders unveiled an energy transition infrastructure LTAF. BlackRock and Aviva Investors have also announced products under the LTAF structure over the last 12 months.
See also: Will economic green shoots entice investors back to the UK market?
