Border to Coast’s partner funds have pooled £47bn of their assets, which is nearly 80% of their total collective holdings according to its fourth annual report.
The report was published on 21 July, it set out the progress achieved on pooling and the benefits delivered for the Local Government Pension Scheme (LGPS).
The annual report outlined that the pension pool is responsible for the management of £38.3bn of the total pooled assets of its 11 LGPS partner funds, which was an increase of £13.6bn from last year.
Rachel Elwell, CEO at Border to Coast, said: “Working with our partner funds, we continue to demonstrate how our collective approach to pooling is unlocking benefits for the LGPS.
“Of our partner funds’ £60bn of assets, £47bn have now been pooled and I firmly believe there is significant potential to deliver further value for the LGPS in the years ahead.”
The report stated that Border to Coast has generated £14m of savings during the year for its partner funds and is on track to deliver £250m of cumulative savings in the first 15 years of pooling.
Elwell added: “In coming together, we have unlocked access to new investment opportunities in private markets, delivering significant cost savings in the process, and have developed an influential voice as a responsible investor.”
The report said the pool has delivered “innovative and cost-effective investment opportunities for its partners” through multiple funds, which include £3.5bn Multi-Asset Credit Fund, £1.4bn Listed Alternatives Fund, and £4bn of commitments for its second Private Markets programme.
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