Railway Pension Scheme appoints new lawyers
Legal Week: 11/05/2006
Corporate law firm Camerons has won a dual role in a 'giant' railway pension fund tender. With the rail industry on the brink of the largest national rail strike since 1926 to defend rail pensions the appointment represents interesting timing to say the very least.
CMS Cameron McKenna has emerged victorious following the decision by one of the UK?s largest pension schemes to create its first-ever legal panel.
Railpen Investments, the sixth-largest scheme in the country with around £15bn in assets and control of the railway pensions plans, this month concluded its first panel review, appointing advisers for financial services and commercial property.
The selection process for the financial services and investment advice panel was led by Railpen head of legal Stephanie Fuller, resulting in the appointment of Camerons, Nabarro Nathanson and Scots giant Maclay Murray & Spens. There was an initial shortlist of 10 firms.
The win for Nabarros follows its hire last year of Dale Gabbert, Railpen client contact and alternative investment funds partner. He joined in September from Dechert.
Following Gabbert?s hire the firm has undertaken property work for Railpen worth a total of around £800m.
A separate review of Reailpen?s property advisers confirmed Camerons and Berwin Leighton Paisner as advisers.
However Railpen has yet to put its key pensions advisory role out to tender, retaining magic circle firm Freshfields Bruckhaus & Deringer as sole legal adviser on pensions work.