Hargreaves Lansdown will become the first investment platform to offer Long-Term Asset Funds (LTAFs) within a self-invested personal pension (SIPP), following a partnership with Schroders Capital.
From the week beginning 15 September, eligible investors will be able to access two Schroders-managed LTAFs covering global private equity and energy transition infrastructure. The products will be available with a minimum investment of £10,000 and come with discounted ongoing charges for Hargreaves Lansdown customers.
The Schroders Capital Global Private Equity LTAF will feed into a $2.5bn semi-liquid private equity fund launched in 2019, with exposure to more than 270 companies. The Global Energy Infrastructure LTAF will provide access to a semi-liquid portfolio of more than 180 assets, including wind farms, solar parks and other energy-transition projects.
LTAFs are a structure regulated by the Financial Conduct Authority (FCA) designed to give long-term investors access to illiquid assets such as private equity, infrastructure and private debt. They can only be bought and sold at set intervals, often requiring 90 days’ notice for withdrawals.
Emma Wall, head of platform investments at Hargreaves Lansdown, said: “For retail investors with a long-term investment horizon, the appropriate knowledge and resources, and as part of a well-diversified portfolio, private markets can play an important role in delivering unique growth opportunities beyond what is typically available in public markets.”
James Lowe, director of private markets at Schroders Capital, described the launch as “a watershed moment for the accessibility of private markets for eligible retail investors in the UK".
The two funds will initially be available through SIPPs and Fund & Share accounts, with access through Stocks & Shares ISAs expected from April 2026.