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Local Pensions Partnership scouting for assistance with investment due diligence

Local Pensions Partnership, Preston, England, is searching for a provider of third-party operational and investment due diligence for alternative investments, confirmed a spokeswoman for the asset and liability management pool.

The search is across private equity, private credit and liquid alternatives, she added.

"LPP is looking to obtain access to independent third-party operational and investment due diligence for alternative investments, to provide a devil's advocate to internal investment recommendations," a notice filed with European procurement website Tenders Electronic Daily said. The partnership wants access to a broad library of detailed investment and operational due diligence research papers, and is not looking for any form of asset advisory.

The spokeswoman declined to comment on the types of firms the partnership is looking for, since the search is already underway.

The search is being managed by procurement firm Proxima Group.

The deadline for RFPs is Sept. 1; interested parties should first register on Proxima's website.

LPP has 12.5 billion ($16.2 billion) in assets.