Premier Foods Group Limited (RHM)

No. It is a corporate defined-benefit pension fund, originally sponsored by Ranks Hovis McDougall and currently linked to Premier Foods plc. While the Thompson family — founders of Hillsdown Holdings, a predecessor entity — operates substantial family wealth via Thompson Investments and Cheveley Park Stud, the pension scheme is a separate fiduciary structure governed by a trustee board, not a family office vehicle.

The scheme allocates to private equity through fund commitments and co-investments, typically accessed via UK mid-market buyout managers. The investment consultant or fiduciary manager acts as gatekeeper, selecting funds in sectors adjacent to the fund's industrial heritage: food manufacturing, logistics, packaging, and industrial services. The fund does not maintain a disclosed direct-investment team, placing it in the allocator category rather than that of an active deal-by-deal investor.

The portfolio includes the Lord Rank Centre office building in High Wycombe, several operational bakery sites (Carlton, Stoke, Moreton), the Ambrosia Creamery in Devon, and a mill in Andover. These are primarily industrial assets, with most carrying single-tenant concentration risk tied to Premier Foods operating subsidiaries. The scheme views these as long-duration income generators within the overall pension asset-liability matching framework.

As a closed defined-benefit scheme in the UK, it is a natural candidate for a full buy-in or buyout with an insurance company, following the path taken by many FTSE-linked pension funds. While no completed transaction has been publicly announced, the scheme's managed wind-down posture keeps the pension risk transfer option as the terminal strategic destination, subject to funding level and insurer pricing.

A trustee board holds fiduciary responsibility, typically advised by an investment consultant and, in many cases, a delegated fiduciary manager who executes day-to-day allocation decisions. The names of the current trustee chair and key consultants are not publicly disclosed in a consolidated source. There is no single named CIO or investment committee list in the public record.