Using Pensions to fund Private Equity & Venture Capital

The recently passed Kenya finance budget 2015/16 had some changes that affect licensed retirement benefit  schemes.

The main one was to allow pension managers to invest up to 10% of retirement funds they manage into private equity and venture capital investments that are licensed by the Capital Markets Authority (CMA).

Pensions can also invest up to a maximum of 15% their funds in any asset class, bond, equity or security issued by a single issuer, but this exception does not apply to government securities.

The new rules also bring in term limits, as trustees are now limited to serve two terms of a maximum of 3 years each and are contained in legal notices 109-112 of 2015.


One thought on “Using Pensions to fund Private Equity & Venture Capital

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