London pension schemes launch 'The London Fund'

Local Pensions Partnership Ltd (LPP), the London Collective Investment Vehicle Ltd (LCIV), and the London Pensions Fund Authority (LPFA) are expecting to jointly target allocation of several hundred million pounds to launch a new London-focused fund. 

The London Fund’s portfolio will focus on investments in the City of London, the 32 London boroughs and their immediate surroundings, in assets such as residential property – specifically build-to-rent – and affordable housing, community regeneration projects, and infrastructure, including digital infrastructure and clean energy.

Each of these assets will be selected to provide sustainable, long-term and risk-adjusted value to the pension scheme members while creating a ‘double bottom line’ by making a positive contribution to social and environmental issues in the area.

The fund, which will have a closed-ended structure, will be managed in partnership between LPP Investments Ltd (LPPI) and LCIV. By pooling their resources, LPPI and LCIV expect to have access to a greater range of investment opportunities for The London Fund than would be available to either entity acting alone.