Local Pensions Partnership Investments (LPPI) has taken an important step towards formally growing to nine partners funds.
The Devon, Avon, Dorset, Somerset, Cornwall and Environment Agency pension funds, together with the Lancashire County Pension Fund, The London Pensions Fund Authority and the Royal County of Berkshire Pension Fund, have all signed a Memorandum of Understanding (MoU), marking this first official step in creating an enlarged LGPS pool.
LPPI will continue to work with all nine partner funds to ensure a smooth and efficient onboarding as equal shareholders, whilst maintaining alignment with each fund’s existing investment strategies and objectives. The formal process will be completed by the Government’s deadline of 31st March 2026.
Once integration is complete, LPPI’s total assets under management (AUM) will be more than £54 billion.
Chris Rule, Chief Executive Officer of LPPI, said: “This important milestone means we’re now ready to move from due diligence and planning to execution. We’re excited to work closely with our new and existing partners funds to achieve their strategic goals, all while delivering on the ambition of Fit for the Future and extending the benefits of pooling to more members, employers and taxpayers.”
Toby Simon, Chair of the Avon Pension Fund Committee, added: “We are very pleased that a formal MoU has been signed between all the prospective pool partners. We are confident it offers a great basis for our collaboration and for building a stronger and larger pool. We expect that the new pool will offer innovative approaches to collective investment based on the highest standards of ESG.”
Councillor Simon Bond, Chair of the Berkshire Pension Fund Committee, added: “I am pleased this first step has been taken in enlarging the LPPI investment pool, and welcome the new partner pension funds who are in the process of joining. The Royal County of Berkshire Pension Fund looks forward to working with others in making this transition a success, alongside our core function of providing pensions for members of the pension scheme.”
For more information please contact:
Shayla Reid, Account Manager at Citypress (on behalf of LPPI)
[email protected]; 0161 235 0303