Laura Sharman 02 November 2016

Council pension funds launch £5bn Global Equity Fund

The Lancashire County Pension Fund (LCPF) and London Pensions Fund Authority (LPFA) have pooled their assets to launch a £5bn Global Equity Fund.

The fund is the first in a series of asset-class funds to be launched by the Local Pensions Partnership (LPP). It intends to consolidate other investments such as private equity, infrastructure and credit under special purpose vehicles over the next six months.

Susan Martin, chief executive of LPP, said: 'Following our FCA and ACS approval we have been waiting for Government to change the LGPS investment regulations. There are now no barriers to physically pooling our assets and launching the fund.

'As a not-for-profit pension services organisation we provide investment management, risk and pension administration services to a range of clients. This development is another step in delivering the expected benefits of the collaboration between LPFA and LCPF.'

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