bfinance, an independent investment consultancy, has appointed former LGPS investor Trevor Castledine as Senior Director, Private Markets. Joining the private markets team at bfinance’s London office, Castledine brings over twenty-five years’ experience in financial services, pensions and investments.
Castledine was formerly Deputy CIO and Private Credit Investment Director at LPP (Local Pensions Partnership), and prior to that was Deputy CIO at Lancashire County Pension Fund. He has won multiple awards and commendations for his work including LAPF Investments Awards “Investment Strategy of the Year” 2015, Professional Pensions Awards “Best Use of Alternatives” 2015, Institutional Investor Peer-to-Peer Awards “Best Use of Private Debt” (2016). Trevor holds a MA in Management Studies & Computer Science from Queens’ College, Cambridge.
Castledine will report to Peter Hobbs, Managing Director & Head of Private Markets. The appointment marks the next phase in the development of bfinance’s rapidly growing Private Markets business, which is now responsible for over 30 per cent of all project work executed by the global specialist investment consultancy. bfinance’s most recent quarterly market intelligence report found that new manager searches in private markets definitively outstripped that of other asset classes, making up 39 per cent of new mandates compared with public markets, fixed income and diversifying strategies, which accounted for 26 per cent, 19 per cent and 16 per cent respectively.
The firm’s Private Markets team now includes five directors, up from two in January 2018 – Hobbs, Castledine, Anish Butani (Infrastructure), Sweta Chattopadhyay (Private Equity) and Thibault Sandret (Private Credit), working alongside a team of research Associates and Analysts. Sandret, who joined bfinance in April 2019 following roles at Lloyds and BNP Paribas, was promoted to Director in December 2019.
Peter Hobbs, Managing Director & Head of Private Markets, says: “We are delighted to have Trevor join the team, bringing extensive experience in private markets including private credit, private equity and real estate, as well as his deep understanding of the needs of pension funds thanks to his LGPS background. Many of bfinance’s senior researchers come, like Trevor, from practitioner roles rather than career consulting backgrounds and we believe that this provides deeper insight for our clients, particularly in areas such as manager selection and due diligence.”
Trevor Castledine, Senior Director, Private Markets, says: “I’m very excited to be able to join bfinance, having used the firm as an advisor during my time in LGPS – they stood head and shoulders above the rest, with a genuine focus on the specific needs of each client. I look forward to being able to help pension schemes and other investors find the right investment solutions to meet their needs, hopefully to the benefit of the end beneficiaries that we all should ultimately serve.”