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BT Pension Adds to Hermes PE

Hermes Private Equity (HPE), the private equity arm of Hermes Pensions Management, has received GBP300m from the BT Pension Scheme for its third direct private equity fund, Hermes Private Equity Partners III (HPEP III). Like the first two funds, HPEP III will invest primarily in middle-market buyouts in the UK and Europe, typically valued in the range of GBP20m to GBP150m.