Sanjay Mistry, former head of private debt at Mercer, has joined the Pension Protection Fund (PPF) to lead its alternative credit investment activity.
Mistry was previously director of private debt and private equity fund of funds at Mercer Investment Consulting.
He joins the PPF, which manages the assets of UK defined benefit pension funds that have been rescued following employer insolvency, as a portfolio manager. He will be responsible for all aspects of managing the PPF’s existing alternative credit positions and sourcing, undertaking due diligence and structuring new investments in the asset class.
During his 20 years at Mercer, Mistry has led the firm’s discretionary private debt vehicles since 2009 and sat on its private markets investment committee. He was also involved in sourcing private debt investments, conducting due diligence and structuring primary, secondary and direct investments.
The PPF has approximately £30 billion of assets under management according to its latest financial report, up £1 billion on the previous year.
Last year, the PPF appointed Purna Bhudia as head of credit as part of moves to bring more of the fund’s investment capabilities in-house.
Mistry will chair PDI’s Capital Structure Forum 2018, which takes place on 23-24 October in London.