A broad range of private market investment solutions to help investors reach their goals
As one of Europe’s largest investment managers in private assets, with over £40 billion in assets under management1 and 140 professionals across four locations, we have the scale to access the full depth and breadth of private market investment opportunities across real estate, infrastructure, private debt, multi-asset real assets, natural capital, and venture and strategic capital.
Our diverse capabilities enable us to offer investors solutions aligned to various client outcomes and sustainability preferences, from capital growth through active equity investments, cash-flow matching via debt solutions and bespoke requirements spanning different assets, including access to our natural capital capabilities for sustainably-minded investors. We offer a range of pooled and bespoke solutions, as well as co-investment opportunities, enabling a broad range of global investors access to the benefits that private markets can offer.
Active equity solutions
Investors with a long-term time horizon and high risk tolerance could consider private market investments that offer high return potential and diversification, including infrastructure equity and real estate equity.
Cash-flow matching solutions
Asset classes such as infrastructure debt, real estate debt and real estate long income may be attractive to investors with a medium-term time horizon and decreasing risk tolerance, and a greater focus on balanced risk and reward.
Multi-private market solutions
Investors with a focus more on income and liability matching may prefer defensive assets offering attractive and more predictable cashflows, such as private debt solutions. Those with bespoke requirements can also benefit from multi-private market capabilities to reach their specific risk and return objectives.
Venture and strategic capital solutions
Investors with patient capital may be interested in our in-house capabilities in venture and strategic capital with a focus on early-stage venture and growth-oriented companies. Investing here can help drive innovation, bringing scope for financial, social and environmental returns.
1. Aviva Investors, as at 30 June 2024.
Private market solutions
Aviva Investors has the scale to access the full depth and breadth of private markets.
Infrastructure
Our deep market access allows us to source high-quality projects, delivered through a range of senior debt opportunities or via the acquisition of assets. We focus on stable, long-term income generation and efficient execution.
Real estate
Outcome-oriented solutions in real estate, through strategies that span the risk spectrum, from lower-risk options generating long-term income to more opportunistic investments.
Venture and strategic capital
Our specialist in-house venture capital team is working to support the aims of the UK government to boost investment into high growth companies, ultimately benefitting savers and the UK economy.
Private debt
We finance bespoke structured finance, private corporate debt, real estate debt and infrastructure debt transactions, providing our investors with outcomes that meet their investment objectives.
Real assets multi-asset
Our integrated private assets platform allows us to collaborate with our clients to design bespoke multi-asset portfolios that meet a wide variety of long-term investment and return objectives.
Real estate long income
Long-lease property acquisitions to generate stable, long-term, inflation-linked cash flows to de-risk real estate exposures or match long-dated liabilities. They provide an alternative to or complement fixed-income allocations.
Natural capital
Offering investors innovative low carbon investment opportunities through nature restoration and afforestation. Specialist nature-based capabilities can support net zero commitments and help enhance biodiversity and social value generation.
Investment philosophy
Our multi-asset mindset and ability to invest with conviction and at scale supports our ambition to be a global leader in sustainable private assets and a trusted partner for our clients.
Conviction at scale
We invest directly with conviction and scale in locations, sectors and themes we believe will drive value creation and capital preservation. We have a relentless focus on delivering superior risk-adjusted returns as a direct asset owner.
Collaborate to innovate
We collaborate and think as one private markets business, with an ambition to grow a differentiated, innovative and outcome focussed platform. We leverage skills and insights across capabilities to enhance investment decision making.
Sustainability considerations
ESG integration is fully embedded into our investment process and decision making, influencing every aspect of the investment lifecycle*. Our investment approach aims to enhance long-term value creation and drive positive change.
*ESG integration means the integration of ESG factors and consideration of sustainability risk as part of the investment decision making process. This process is applied beyond any specific binding constraints (in the objective or strategy of the fund as detailed in the prospectus or investment management agreement and in accordance with our Baseline Exclusions Policy). The investment manager retains discretion on decision making taking all risks into account, beyond any binding criteria.
Investment insights
Investment thinking that brings together the collective insight of Aviva Investors’ teams from across the globe on the key themes influencing markets.
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Illiquidity premia in private debt: Q3 2024
30 Oct 2024
In our latest private markets deep dive, our research team crunches the data to see how evolving macro conditions are reflected in private debt returns.
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Seizing the moment: The outlook for real estate debt
24 Sep 2024
Gregor Bamert, Sima Kotecha and Nick Solomon discuss the recovery in real estate debt markets in 2024 and the opportunities emerging.
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Get networking: Will the next decade be a golden age for UK infrastructure?
3 Sep 2024
While there are obstacles to overcome, the coming years could see new opportunities for the UK government and the private sector to work together on infrastructure projects, says Darryl Murphy.
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Illiquidity premia in private debt: Q2 2024
6 Aug 2024
In our latest real assets deep dive, our research team explains how our data on illiquidity premia indicates the benefits of a multi-asset approach to private debt investing.
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Relative value in real assets: A spectrum of opportunities
2 Aug 2024
Our real assets research team drills into proprietary data to compare risk and return across sectors.
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A new chapter: Time to prepare for the next phase of the real estate cycle
17 Jul 2024
David Hedalen and Jonathan Bayfield from our real assets research team highlight data that shows real estate markets in the UK and Europe may be on the brink of an important shift.
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The future of green premia in real estate, part two: Searching for value and resilience
8 Jul 2024
Do energy-efficient buildings have more pricing power, and what could that mean for those investing in the built environment? We bring together the views of leading capital markets researchers, a valuer and an asset manager for the second part of our deep dive into green premia, analysing the investment implications.
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The future of green premia in real estate, part one: The view from the ground
27 Jun 2024
Do greener buildings have more pricing power, and if so, how much? We bring together the views of leading capital markets researchers, a valuer and an asset manager for a two-part deep dive on the latest market dynamics.
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Cyclical, structural, vintage: The outlook for real estate equity
10 May 2024
High inflation and rising rates hit activity in real estate markets over the past year. But cautious optimism is now returning to the investment landscape in the UK and Europe, say Imogen Ebbs and George Fraser-Harding.
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Resilience and recovery: The outlook for real estate long income
21 Mar 2024
Renos Booth, Isabel Gossling and Kris McPhail from our real estate long income team consider the outlook for long-lease assets after a challenging period for investors.
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Rents, rates and the refinancing gap: The outlook for real estate debt
19 Mar 2024
After a challenging 12 months for real estate debt investors, Gregor Bamert discusses what lies ahead for the market in 2024.
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Illiquidity premia in private debt: Q4 2023
12 Mar 2024
In our latest real assets deep dive, our research team crunches the data to see how evolving macro conditions are reflected in private debt returns.
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Des res: Opportunities in rental housing for institutional investors
25 Jan 2024
Jonathan Bayfield examines the fundamentals of this asset class, as well as the opportunities and risks for real-estate investors.
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Common ground: Earning a social licence to operate in real asset investing
18 Jan 2024
Successful real asset investing requires acceptance of asset managers’ practices and procedures from a variety of stakeholders. We explore what this means for managers, their clients and investment outcomes.
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Plus ça change…The outlook for infrastructure debt in 2024
11 Jan 2024
Infrastructure demonstrated characteristic resilience in 2023 in the face of significant macroeconomic headwinds. Darryl Murphy from our infrastructure team explains why he expects current themes to persist in 2024.
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Tech, trees and tailwinds: The outlook for climate transition real assets
9 Jan 2024
In this Q&A, James Tarry and Luke Layfield explore the themes shaping the landscape for real asset investors with a climate transition focus.
House View
No one can predict the future. But our quarterly House View sets out the collective wisdom of our investment teams on the current state of global markets – and where they might be heading.
Real Assets Study 2024
Demand remains strong, but the investment drivers are changing. At a time of macroeconomic uncertainty, real assets continue to play a significant role in the investment strategies of global institutions. The sixth edition of the Aviva Investors Real Assets Study is our biggest yet and seeks to answer some key questions.
Key risks
For further information on the risks and risk profiles of our funds, please refer to the relevant KIID and Prospectus.
Investment risk and currency risk
The value of an investment and any income from it can go down as well as up and can fluctuate in response to changes in currency and exchange rates. Investors may not get back the original amount invested.
Real estate / infrastructure risks
Investments can be made in real estate, infrastructure and illiquid assets. Investors may not be able to switch or cash in an investment when they want because real estate may not always be readily saleable. If this is the case, we may defer a request to switch or cash in shares or units. Investors should also bear in mind that the valuation of real estate is generally a matter of valuersʼ opinion rather than fact.
Valuation risk
Investors should bear in mind that the valuation of real estate / infrastructure is generally a matter of valuers’ opinion rather than fact.
Private markets expertise
Meet our private markets investment team.
Daniel McHugh
Chief Investment Officer
Ben Sanderson
Managing Director, Real Estate
Darryl Murphy
Managing Director, Infrastructure
Melanie Collett
Head of Investment Implementation
Munawer Shafi
Head of Structured Finance & Private Debt
Ben Luckett
Managing Director - Venture & Strategic Capital and Chair - Aviva Capital Partners
Mark Meiklejon
Head of Private Markets Investment Specialists
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Capabilities
With a global presence, far-reaching expertise, and extensive capabilities across major asset classes, we are well placed to help achieve the outcomes our clients demand.