Norfolk Pension Fund, 8 other LGPS launch search for investment consultants

Norfolk Pension Fund, Norwich, England, seeks multiple investment consultants on behalf of itself and eight other local government pension schemes, a spokesman said.

The £3 billion ($3.8 billion) pension fund together with the £4.1 billion Cheshire Pension Fund, Chester; £2.7 billion Environment Agency Pension Fund, Bristol; £1.2 billion London Borough of Hackney Pension Fund; £1 billion London Borough of Tower Hamlets Pension Fund; £5.6 billion Merseyside Pension Fund, Liverpool; £2 billion Cambridgeshire County Council Pension Fund, Cambridge; £1.8 billion Northamptonshire Pension Fund, Northampton; and £2.9 billion West Sussex Pension Fund, Chichester, will hire up to six investment consultants under a multiprovider framework agreement.

The framework may also be used by any other asset pool, collective investment vehicle, LGPS or groups of pension funds operating on a collective basis, according to a notice on European procurement website Tenders Electronic Daily. Proposals are due by noon British Summer Time on July 10. A hiring date was not provided.

Hymans Robertson, Norfolk’s previous consultant can rebid.