Local Pensions Partnership Investments (LPPI) is to establish a new office in Bristol, as it continues to progress towards growing to nine partner funds.
The new office, the location of which is in the process of being agreed, will complement LPPI’s existing sites in London and Preston, and ensure the pool continues to have a local presence in each of its partner funds’ regions.
As it scales up, LPPI will also be hiring an initial 18 new roles, which it has opened to team members from Brunel in the first instance.
These decisions are the latest in LPPI’s ongoing work with all nine partner funds to ensure a smooth and efficient onboarding as equal shareholders as part of the government’s Fit for the Future process.
LPPI is on track to complete formal onboarding by the government’s deadline of March 31, which will bring LPPI’s total assets under management to more than £56bn.
“We’re making excellent progress in the onboarding process thanks to genuine collaboration across all nine partner funds,” said Chris Rule, chief executive officer of LPPI. “Although we already have the capabilities and structure to deliver on the requirements of Fit for the Future, we need to scale to reflect our greater size.”
“As we do this,” Rule added, “we want to maintain a local presence for our partner funds, and do what we can to retain vital skills and experience within the LGPS. That’s why we’re opening a Bristol office and opening these new roles to Brunel colleagues first.”
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