Railpen

Name

Railpen

Legal name

RAILPEN Limited

Website

https://railpen.com

Company type

Private

Founded year

1965

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Pension Fund Management

NAICS

Pension Funds (525110), Pension Funds (52511)

SIC

Services-Engineering, Accounting, Research, Management (8700)

akta.pro primary industry

Corporate & Public Pension Funds (DB/DC Sponsors) (FSAAAGAA)

akta.pro secondary industries

Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB), Pensions & Retirement Benefits Administration (BPAIAKAA), Retirement & Pension Planning (401(k)/IRA) (FSAEAAAD)

Keywords

• Pension fund management
• Investment management
• Pension administration
• Fiduciary management
• Sustainable stewardship

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Pension Fund Management: Railpen generates revenue through managing pension assets for the Railways Pension Scheme and other pension schemes. As a not-for-profit organization, all profits are reinvested into paying pensions securely and sustainably. Revenue is derived from management fees associated with fiduciary management, investment management, and pension administration services.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Railpen is a UK pension scheme manager that administers pensions and manages investments on behalf of the Railways Pension Scheme and other DB, DC, and hybrid pension schemes, serving over 350,000 members with approximately £34bn in assets under management. Its offering spans pension administration, multi-asset investment management (public markets, private markets, and real assets including renewable energy and infrastructure), and active sustainable ownership/stewardship services. It also delivers fiduciary management and trustee advisory services to third-party pension schemes.

Product overview

Railpen is a UK pension scheme manager providing integrated pension administration and investment services for the Railways Pension Scheme, serving over 350,000 members with approximately £34bn in assets under management. The organization operates a multi-asset investment approach spanning public markets, private markets, and real assets, complemented by active stewardship services including the annual Stewardship Report and AI Governance Framework. Infrastructure investment capabilities include renewable energy projects through portfolio companies AGR Power and AGR Renewables. The company also leads the Governance for Growth Investor Campaign to advocate for corporate governance standards.

Differentiator

Problem solved

Functional benefit

Products and services

• Pension Administration Services
• Investment Management
• Sustainable Ownership and Stewardship Services
• Infrastructure Investment Portfolio
• Third-Party Fiduciary Management

Quantifiable outcome

• Stewardship Report recognized by regulators as good practice and awarded the ICGN Global Stewardship Disclosure Award
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

15 partnerships are on record, tiered minor and core.

• NestminorStrategic or Co-development Partner · 1 May 2026Joined GGIC as new member in May 2026. Nest is one of the UK's largest workplace pension providers.
• Pi PartnershipminorStrategic or Co-development Partner · 1 May 2026Joined GGIC as new member in May 2026. Professional trustees focused on protecting pension scheme member interests.
• Pensions UKminorStrategic or Co-development Partner · 1 December 2025Major investment-focused organization supporting the GGIC campaign, representing multi-trillion AUM.
• International Corporate Governance Network (ICGN)minorStrategic or Co-development Partner · 1 December 2025Multi-trillion AUM organization supporting the GGIC campaign.
• Principles for Responsible Investment (PRI)minorStrategic or Co-development Partner · 1 December 2025Multi-trillion AUM organization supporting the GGIC campaign.
• UK Sustainable Investment and Finance Association (UKSIF)minorStrategic or Co-development Partner · 1 December 2025Organization supporting the GGIC campaign.
• Governance for Growth Investor Campaign (GGIC)coreStrategic or Co-development Partner · 1 July 2025Railpen launched and chairs the multi-trillion-pound GGIC initiative bringing together major UK pension schemes and investor organizations to demonstrate that good governance supports corporate performance and long-term value creation. Members include Nest, Pi Partnership, Brightwell, Brunel Pension Partnership, Church of England Pension Board, People's Pension.
• Lewis VanstonecoreOthersHead of Infrastructure at Railpen, leading the expansion of infrastructure investments from £1bn to £2bn-£3bn over five years, diversifying beyond social infrastructure and renewable energy into transport, telecoms, equipment leasing, and data centres.
• Innovate CambridgeminorStrategic or Co-development PartnerPartnership with Innovate Cambridge on The Glasshouse initiative as part of Railpen's integrated approach to supporting Cambridge's innovation ecosystem.
• Superdry & CominorGTM or Marketing PartnerRailpen manages Caledonia Park where Superdry launched its first outlet store in the UK. The launch represented the brand's latest investment in its evolution with a focus on premium, refined British lifestyle apparel.
• Chronos SustainabilityminorStrategic or Co-development PartnerRailpen partnered with Chronos Sustainability to publish an AI governance framework for investors, setting out investor expectations for how companies should govern and manage artificial intelligence.
• Investor Coalition for Equal Votes (ICEV)coreStrategic or Co-development PartnerRailpen is co-founder and chair of the $4.5tn ICEV, working to challenge dual-class share structures. The coalition secured engagement with major investment banks and expanded focus to venture capital and private equity firms.
• CCLA 'Find it, Fix it, Prevent it' CoalitionminorStrategic or Co-development PartnerRailpen is a member of this investor-led initiative engaging with high-risk portfolio companies to understand how they investigate supply chains to identify and eradicate modern slavery.
• Rathbones-led 'Votes Against Slavery'minorStrategic or Co-development PartnerRailpen is a member of this initiative expecting FTSE 350 companies to fulfil annual reporting requirements under Section 54 of the Modern Slavery Act 2015, voting against annual reports where requirements are not met.
• Workforce Directors Coalition (WDC)coreStrategic or Co-development PartnerRailpen co-founded the $2.5tn WDC, engaging on workforce issues and worker voice with target companies.

Scale indicators16 records

Others

• Willis Towers Watson (WTW): WTW is a global investment consulting and advisory firm that advises pension schemes on fiduciary management and investment strategy, comparable to Railpen's fiduciary management offering and notably the prior employer of Railpen's Head of Sustainable Investment Adam Gillett.

Broad incumbents

• Legal & General Investment Management (LGIM): LGIM is one of Europe's largest asset managers with over £1.4tn AUM serving pension schemes globally; comparable to Railpen in providing investment management and stewardship services to pension clients at scale, though broader in scope.
• Aviva Investors: Aviva Investors is a large UK asset manager managing pensions and institutional capital across public and private markets, comparable to Railpen's diversified multi-asset investment platform and notably the prior employer of Railpen's Director of Private Markets Anna Rule.

Direct peers

• Smart Pension: Smart Pension is a UK master trust workplace pension provider serving hundreds of thousands of members through DC auto-enrolment, directly comparable to Railpen's third-party pension administration and investment services business.
• People's Pension (B&CE): The People's Pension is a major UK master trust providing workplace DC pensions to hundreds of thousands of members, directly comparable to Railpen's third-party pension administration and investment management offering.
• Border to Coast Pensions Partnership: Border to Coast is a UK LGPS pension pool managing over £55bn for multiple local authority funds, comparable to Railpen as a multi-scheme fiduciary asset manager combining investment management with active stewardship.
• Church of England Pensions Board: The Church of England Pensions Board manages over £3bn of pension assets for clergy and Church workers with a strong stewardship focus and is a fellow GGIC member with Railpen, making it directly comparable in mission-driven institutional pension management.
• Nest Corporation: Nest is one of the UK's largest workplace pension providers serving millions of members through DC auto-enrolment, comparable to Railpen in operating as a large-scale UK pension scheme manager with member-first ethos and significant AUM scale.
• Brunel Pension Partnership: Brunel is one of the UK's largest local government pension pools managing over £35bn on behalf of multiple LGPS funds, directly comparable to Railpen in pooling scheme assets for institutional clients with an institutional asset management and stewardship focus.

Emerging players

• Pension Insurance Corporation: PIC is a specialist UK pension risk transfer provider insuring DB scheme liabilities, partially comparable to Railpen as a UK-focused institutional pension manager but operating a fundamentally different business model focused on buyout/buy-in transactions.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/railpen
• Xx.com/railpen

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Railpen