Launch of LPPI Global Equities Fund (pooled vehicle)

The Local Pensions Partnership (LPP) has launched a £5bn Global Equity Fund, made up of the pooled holdings of its existing main clients and shareholder funds; the Lancashire County Pension Fund (LCPF) and London Pensions Fund Authority (LPFA). The Global Equity Fund is the first in a series of asset-class funds to be launched under the LPP’s Authorised Contractual Scheme (ACS) with future funds planned for fixed income, total return and property. More illiquid investments such as private equity, infrastructure and credit are being consolidated under special purpose vehicles over the next six months.