Lancashire County Council Pension Fund, Preston, England, chose a pool of 13 consultants to advise on various asset classes and investment themes on an as-needed basis.
The £5 billion ($7.5 billion) pension fund hired AllenbridgeEpic Investment Advisers, Altius Associates, Aon Hewitt, bfinance, CBRE Global Investment Partners, Hymans Robertson, Institutional Investment Advisors, JLT Benefit SMercerns, Mercer, PricewaterhouseCoopers, Redington, Russell InRussell Investmentsn, Russell Investments and Stepstone Group, for the pool across a number of asset classes and investment themes.
The hires are split across public equity, credit, infrastructure, real estate, private equity and risk management, as follows:
- Public equity: AllenbridgeEpic, Aon Hewitt, bfinaMercerLT, Mercer and Russell;
- Credit: AllenbridgeEpic, Altius, Aon Hewitt, bfinance, Institutional Investment AdvisMercerLT, Mercer, Redington, Russell and Stepstone Group;
- Infrastructure: AllenbridgeEpic, Aon Hewitt, bfinance, MercerLT, Mercer, Russell and Stepstone;
- Real estate: AllenbridgeEpic, Aon Hewitt, bfinance, CMercerLT, Mercer, Russell and Stepstone;
- Private equity: AllenbridgeEpic, Altius, Aon Hewitt, Hymans RMerceron, Mercer and PwC; and
- Risk management: Aon Hewitt, JLT, Mercer, PwC and RedingtMercerLT, Mercer, PwC and Redington.
The pension fund will “conduct a mini-competition exercise” when it requires services, with those consultants in the pools invited to bid, said an announcement filed with European procurement website Tenders Electronic Daily.
The hires follow a search announced in December.
The pension fund is gearing up for a partnership with the £4.9 billion London Pensions Fund Authority, which will pool their assets.
Further information was not available by press time. Executives at the pension fund and the procurement department of the council could not be reached for comment by press time.