Border to Coast, a recently launched £46bn public sector pension pool, has appointed Daniel Booth as its chief investment officer.
Booth (pictured) joins the pool with a background in portfolio management, having spent the past eight years as head of portfolio management for Saudi Aramco, where he was in charge of covering the oil giant’s pension insurance and endowment portfolios.
Prior to that, he was based in Frankfurt, where he was head of alternative asset research at Prime Capital and investment director covering alternatives for Bad-Homburg based asset manager FERI Trust.
Having relocated from Saudi Arabia to York, Booth will initially work alongside Border to Coast’s interim CIO John Harrison before the formal handover in the final quarter of 2018.
Border to Coast is currently in the process of transferring assets from its 12 participating schemes into pooled funds. In contrast to the other seven LGPS pools which have outsourced their investment strategy, Border to Coast has a strong focus on in-house investment management, building on a team of about 30 portfolio managers, research analysts and other investment specialists.
Having launched two pooled equity in-house equity funds in July, the team is now in the process of appointing third-party asset managers for two UK equity strategies.
The Leeds-based pool is owned by 12 local government pension scheme authorities, including the Bedfordshire, Cumbria, Durham, East Riding, Lincolnshire, Northumberland, North Yorkshire, Surrey, South Yorkshire, Teesside, Tyne and Wear and Warwickshire LGPS pension schemes.
