Nest, the state‑backed UK pension scheme, has announced a £200 million allocation to Schroders Capital as its first venture‑capital move. The scheme, which serves 14 million members and collects roughly £700 million each month, aims to lift private‑market exposure from 19 % to 30 % of its assets by 2030.

Mark Fawcett, chief executive of Nest Invest, said the trust will target middle‑ and late‑stage ventures to capture early‑cycle growth. The decision follows a £450 million commitment to private‑credit loans for U.S. firms via Crescent Capital and a £1.5 billion mandate with Schroders for broader equity exposure. UK ministers and City leaders are urging higher pension allocations to private markets to boost returns and support domestic growth.

Private‑equity holdings now make up 5 % of Nest’s £68 billion asset pool, with 44 % invested in UK entities—including Wayve, an autonomous‑driving start‑up that recently listed on LSEG’s new private‑markets platform. The move signals a shift in defined‑contribution schemes toward unlisted UK businesses, a trend that could raise returns for savers while fueling job creation.