FirstGroup Pension Scheme

FirstGroup Pension Scheme

FirstGroup Pension Scheme was established in 1999 as the primary retirement vehicle for the UK transport operator FirstGroup Holdings Limited. It incorporates the former First UK Bus Pension Scheme, which merged into the main plan on May 31, 2024. The scheme remains closed to new entrants since 2012. Assets are deployed across seven documented vehicles. Confirmed holdings include the Property Pooled Investment Fund Portfolio, Stafford Timberland Portfolio, LGIM Low Carbon Transition Global Equity Index Fund, Ninety One Multi-Asset Credit Fund, Macquarie Infrastructure Debt (UK Inflation Linked) Fund, CTI Credit-Linked Real LDI Fund, and LGIM ARB Fund. Geographic exposure centers on the United Kingdom with additional commitments to global timber and US private equity secondaries. The scheme participates as a limited partner in AE Industrial Partners, ForgePoint Capital, Gallant Capital Partners, and GENUI. Total assets stand at $1.34 billion. No headcount or additional offices are disclosed. Service providers include Mercer Limited as investment manager since 2009, LCP as advisor since 2023, and State Street Custodial Services as custodian since 2011. The plan maintains an explicit target to reach net-zero greenhouse gas emissions by 2050. The scheme is sponsored directly by a listed transport company rather than a private family or endowment, creating a governance link to corporate cash flows and regulatory oversight under UK pension rules.