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Centrica Combined Common Investment Fund
Centrica Combined Common Investment Fund was established in 2002 to consolidate pension obligations of the UK energy company Centrica. The plan covers...
Centrica Combined Common Investment Fund
Centrica Combined Common Investment Fund was established in 2002 to consolidate pension obligations of the UK energy company Centrica. The plan covers employees through the Centrica Pension Scheme, Centrica Pension Plan and Centrica Engineers Pension Scheme, all sponsored by Centrica plc. The fund targets a mix of public equities, private equity at 8.61 percent of assets, real estate and infrastructure. Confirmed holdings include Gresham House Residential Secure Income LP for UK shared ownership housing, Merton Local Plan land in Wimbledon, Scottish Limited Partnerships for fixed income, and a £300 million commitment to unleveraged infrastructure equity. Geographic exposure centers on the United Kingdom with additional holdings through global equity and credit mandates. External advisors include Wellington Management and Mackay Shields for equities and credit, Gresham House for real estate, and Novalpina Capital for private equity. The fund recorded no material operational changes in the last 24 months. Governance rests with a board chaired by Mark Edward Tennant and an investment committee led by Chetan Ghosh, separating plan administration from the sponsoring employer while retaining direct oversight of manager selection and asset allocation.
General information
Firm type
Pension Fund
Year founded
2002
Location
Region
Europe
Country
United Kingdom
City
Windsor
Corporate office
Millstream Maidenhead Road, Windsor, Berkshire, United Kingdom, SL4 5GD
Principals
Chetan Ghosh
Chief Investment Officer
Mark Edward Tennant
Chairman
Sector focus
Frequently asked questions
Who runs investment decisions at Centrica Combined Common Investment Fund?
Chetan Ghosh serves as Chief Investment Officer and leads the in-house team. Mark Edward Tennant chairs the board that oversees the fund.
How is Centrica Combined Common Investment Fund structured relative to Centrica plc?
It functions as the consolidated defined benefit vehicle for three Centrica pension schemes. Centrica plc acts as the sponsoring employer but the fund maintains separate governance and investment authority.
Does Centrica Combined Common Investment Fund commit to external funds or make direct investments?
The fund uses both approaches. It holds limited partnership interests in vehicles such as Gresham House Residential Secure Income LP and invests through managers including Novalpina Capital and Gresham House.
What asset classes receive the largest allocations?
Public equities form the core allocation. Private equity stands at 8.61 percent, with additional exposure to UK real estate and unleveraged infrastructure equity.
Which regions does the fund target for investments?
The majority of direct holdings sit in the United Kingdom. Global equity and credit mandates provide exposure to North America and other developed markets.
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