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Launch of LPPI Private Equity Fund (pooled vehicle)

The Local Pensions Partnership (LPP) has successfully launched its new Private Equity (PE) structure, coinciding with LPP's first full year of operation, having received its FCA accreditation in April 2016. The new structure brings the £1.8 billion PE assets of its two shareholder funds, the London Pensions Fund Authority and Lancashire County Pension Fund under the management of LPP Investments (LPPI), a fully-owned subsidiary of LPP. It also sets up LPPI to act as a full-fledged, FCA-authorised investment manager that can now be appointed directly by other funds to manage private equity investments.