The least best kept secret in the Local Government Pension Scheme (LGPS) can now be officially unveiled, as Local Pensions Partnership Investments (LPPI) has confirmed it will welcome six new LGPS partner funds.
The Devon, Avon, Dorset, Somerset, Cornwall and the Environment Agency pension funds have chosen LPPI as their preferred LGPS pool following an extensive due diligence process.
They join LPPI’s existing three partner funds, the effective collaborators in the creation of LPPI: Lancashire County Pension Fund and the London Pensions Fund Authority, as well as the Royal County of Berkshire Pension Fund.
Following the integration, LPPI’s total assets under management will be now be more than £54bn.
Chris Rule, chief executive officer of LPPI, said: “This is the start of an exciting collaboration, where we’ll work closely to achieve their goals, all while maximising the benefits of pooling for their members, employers and taxpayers.”
LPPI is now looking to work closely with all nine partner funds, to ensure what it describes as “a smooth and efficient onboarding as equal shareholders”, while maintaining alignment with each fund’s existing investment strategies and objectives.
The formal process is expected to be fully completed by the government’s deadline of March 31, 2026.
This also confirms the end of Brunel Pension Partnership, as these funds were the last remaining funds from Brunel seeking a new pooling home.
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