The platform allows different capital providers in the Lloyd’s market to co-invest in tailored funds

Lloyd’s of London has chosen Waystone, institutional provider of services to the asset management industry, as its investment platform operator.

The new platform will feature a series of select funds across asset classes, which Lloyd’s market investors can freely invest in and allocate between them.

Lloyd’s already teamed up with open architecture firm Schroders Solutions in March 2022, which is the platform’s investment advisor.

Lloyd’s hopes that by partnering with Waystone and Schroders Solutions, the funds available on its new investment platform will benefit from best in class, non-conflicting and transparent governance and oversight.

Eleanor Bucks, Lloyd’s chief investment officer, said: “The Lloyd’s investment platform is being established to enable the many different providers of capital within the Lloyd’s insurance market to co-invest in funds tailored to their requirements.

“We are delighted to partner with Waystone to support the delivery of fund vehicle solutions to meet the needs of our broad investor base, which is a key milestone for Lloyd’s.”

Significant milestone

Lloyd’s opted for Waystone as its platform operator due to its ability to service a range of investment vehicles across key domiciles as well as its technology infrastructure.

As platform operator, Waystone will structure investment solutions for the insurance industry. This will include:

  • Establishing and maintaining the ongoing operation of investment vehicles and structures.
  • Oversight of regulated funds in accordance with the Alterative Investment Fund Managers Directive (AIFMD), Undertakings for Collective Investment in Transferable Securities (UCITS) and local regulatory rules.
  • Provision of consolidated reporting services for platform vehicles.

Waystone’s deputy chief executive, Jason Poonoosamy, said: “This appointment is a significant milestone for Waystone and we are delighted to be able to bring our expertise to service Lloyd’s members and managing agents.

“Those joining the platform will benefit from Waystone’s depth of experience, as well as our proprietary and leading technology that is unique in the market today.”

Bucks added: “I very much look forward to working with [Waystone] in this next stage as we launch the initial funds on the platform.”