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About Us

The Wales Pension Partnership (WPP) was established in 2017. The WPP is a collaboration of the eight LGPS funds (Constituent Authorities) covering the whole of Wales and is one of eight national Local Government Pension pools.

We have a long, successful history of collaboration, including examples that pre-date the Government’s pooling initiative. We are proud of our unique identity as a Pool – our Constituent Authorities represent and span the entirety of Wales. Being democratically accountable means we provide the best of strong public sector governance and transparency.

Our operating model is designed to be flexible and deliver value for money. We appointed an external Operator and make use of external advisers to bring best of breed expertise to support the running of the Pool. The Operator is Link Fund Solutions and they have partnered with Russell Investments to manage the investments and assist in the reduction of investment management costs for all the Constituent Authorities.

We have a clear vision and are in control of the pace we take to ensure we meet our goals.

 

Latest News

Thursday 22 December 2022

Wales Pension Partnership appoints Schroders Capital

The Wales Pension Partnership (WPP) today announces the latest in its series of appointments to facilitate implementation of its Pooled Private Markets investment solutions.

Schroders Capital will develop the WPP pooled private equity investment programme, to meet Constituent Authorities’ needs in the asset class.

The appointment follows a rigorous procurement process run by the WPP with investment consultancy firm bfinance. The development will enable efficient and effective access to an illiquid asset class that has been a holding for LGPS funds for many years but that poses challenges in terms of access, cost and governance for single pension fund investors until scale is achieved.

Chris Moore, Director of Corporate Services at Carmarthenshire County Council (Host Authority for the WPP):

“Private Equity has been an important holding for the WPP Constituent Authorities but has historically been challenging to access in a cost effective manner. Pooling offers the opportunity to address this. We look forward to working with our newly appointed partners to meet this challenge and deliver efficient, effective and impactful Private Equity investment for the long term.”

 

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Tuesday 05 April 2022

Wales Pension Partnership awards Private Markets investment contracts

The Wales Pension Partnership (WPP) today announces a series of appointments to facilitate implementation of its Pooled Infrastructure and Private Debt investment solutions.

Russell Investments will develop the WPP pooled private debt investment programme, GCM Grosvenor will implement closed-ended infrastructure investments and open-ended infrastructure will be invested through CBRE Global Infrastructure Fund, IFM Global Infrastructure Fund and Octopus Renewables Infrastructure SCSp.

The appointments follow a rigorous procurement process run by the WPP with investment consultancy firm bfinance. The development will enable efficient and effective access to illiquid asset classes that are fast becoming significant holdings for LGPS funds.

The WPP’s Joint Governance Committee was established in 2017 and is responsible for oversight of the pool’s partner organisations and the services they deliver to the LGPS funds in Wales.

Carmarthenshire County Council acts as Host Authority, liaising day to day with the Pool’s external partners, on behalf of all of the LGPS funds in Wales.

Chris Moore, Director of Corporate Services at Carmarthenshire County Council (Host Authority for the WPP):

“Alternative asset classes have historically been challenging to access in a cost-effective manner. Pooling offers the opportunity to address this challenge. The WPP’s constituent funds have increasing strategic demand for these investments, and we look forward to working with our newly appointed partners to meet this demand.”

 

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Constituent Authorities

Partners