Leaders Shaping Institutional Investment
Leaders Shaping Institutional Investment
Through conversations with pension fund leaders, trustees, regulators, and investment experts, we explore how long-term investment in private equity and venture capital can enhance portfolio resilience while contributing to stronger businesses, better jobs, deeper capital markets, and more sustainable pension systems.
Through conversations with pension fund leaders, trustees, regulators, and investment experts, we explore how long-term investment in private equity and venture capital can enhance portfolio resilience while contributing to stronger businesses, better jobs, deeper capital markets, and more sustainable pension systems.
Conversations Shaping the Future
Insights from industry leaders helping shape the future of pension capital in East Africa
Insights from industry leaders helping shape the future of pension capital in East Africa
The Allocation Gap
Across approximately 1,400 registered pension schemes, allocation to alternative investments remains below 2%
Despite RBA allowing up to 10% allocation to alternatives.
These are the conversations with trustees and fund leaders shaping where Kenya's KES 2.81 trillion in retirement savings goes next
Three questions the series examines
Going
Zero to One
If you’re navigating a new business unit,
or a new venture entirely, or breaking into
a new market
Scaling from
One to N
If you've achieved Product/ Service Market
Fit, and are looking to scale your business
to new heights
Need Quick
Solutions
If you know exactly what you want and
need a team that can step in and quickly
help you with it
Going
Zero to One
If you’re navigating a new business unit,
or a new venture entirely, or breaking into
a new market
Scaling from
One to N
If you've achieved Product/ Service Market
Fit, and are looking to scale your business
to new heights
Need Quick
Solutions
If you know exactly what you want and
need a team that can step in and quickly
help you with it
Three questions the series examines
Concentration and Yield
Kenya’s pension funds hold 52.18% of KES 2.81 trillion in government securities. As the yields that justified that concentration fall from their 2023 peak, trustees across the series weigh what the shift means for member returns.
Precedent Next Door
In other markets such as Uganda, Ghana, and South Africa, pension funds are already making meaningful allocations to alternatives — direct SME investment, growth capital, and fund-of-funds structures that are reshaping what member returns look like.
Permission and Practice
RBA regulations permit schemes to allocate up to 10% of assets to alternatives, yet current industry allocation stood at just 1% as of 2025. These interviews examine what’s driving the allocation gap.
Concentration Risk
Overconcentration in traditional asset classes leaves many pension portfolios insufficiently diversified, increasing systemic risk exposure while limiting opportunities to enhance long-term risk-adjusted returns.
Concentration Risk
Overconcentration in traditional asset classes leaves many pension portfolios insufficiently diversified, increasing systemic risk exposure while limiting opportunities to enhance long-term risk-adjusted returns.
Concentration Risk
Overconcentration in traditional asset classes leaves many pension portfolios insufficiently diversified, increasing systemic risk exposure while limiting opportunities to enhance long-term risk-adjusted returns.
Alternative Investments
Alternative investments are not an end in themselves; they must complement a pension fund's broader portfolio strategy by aligning with fiduciary obligations, governance standards, liquidity requirements, and long-term objectives to deliver sustainable, risk-adjusted returns.
Alternative Investments
Alternative investments are not an end in themselves; they must complement a pension fund's broader portfolio strategy by aligning with fiduciary obligations, governance standards, liquidity requirements, and long-term objectives to deliver sustainable, risk-adjusted returns.
Alternative Investments
Alternative investments are not an end in themselves; they must complement a pension fund's broader portfolio strategy by aligning with fiduciary obligations, governance standards, liquidity requirements, and long-term objectives to deliver sustainable, risk-adjusted returns.
Capacity Building
Adoption begins with education. Trustees, administrators, and investment committees require the knowledge and frameworks to assess alternative investments responsibly.
Capacity Building
Adoption begins with education. Trustees, administrators, and investment committees require the knowledge and frameworks to assess alternative investments responsibly.
Capacity Building
Adoption begins with education. Trustees, administrators, and investment committees require the knowledge and frameworks to assess alternative investments responsibly.
Institutional Trust
Alternative investments must align with fiduciary responsibilities, governance standards, liquidity considerations, and long-term pension objectives.
Institutional Trust
Alternative investments must align with fiduciary responsibilities, governance standards, liquidity considerations, and long-term pension objectives.
Institutional Trust
Alternative investments must align with fiduciary responsibilities, governance standards, liquidity considerations, and long-term pension objectives.
Beyond Returns
When invested productively, pension capital can serve as both a source of long-term returns and a catalyst for economic development. By supporting growing businesses, creating jobs, and strengthening domestic capital markets, pension funds contribute to more resilient economies that, in turn, expand formal employment, increase pension contributions, and improve the long-term sustainability of retirement systems
Beyond Returns
When invested productively, pension capital can serve as both a source of long-term returns and a catalyst for economic development. By supporting growing businesses, creating jobs, and strengthening domestic capital markets, pension funds contribute to more resilient economies that, in turn, expand formal employment, increase pension contributions, and improve the long-term sustainability of retirement systems
Beyond Returns
When invested productively, pension capital can serve as both a source of long-term returns and a catalyst for economic development. By supporting growing businesses, creating jobs, and strengthening domestic capital markets, pension funds contribute to more resilient economies that, in turn, expand formal employment, increase pension contributions, and improve the long-term sustainability of retirement systems
