Border to Coast Pensions Partnership, Leeds, England, with £45 billion ($57.1 billion) in assets selected four managers to run a £4.5 billion equity allocation.
Harris Associates, Investec Asset Management, Lindsell Train and Loomis Sayles Investments will run global equity assets in the pool's subfund expected to launch later this year.
"I am confident that with the combination of Harris Associates, Investec Asset Management, Lindsell Train and Loomis Sayles we can both deliver lower costs and build the long-term risk-adjusted returns to meet our partner funds' needs," Rachel Elwell, CEO of the pool said in a news release.
Over 90 asset management firms submitted proposals to Border to Coast, which was advised by Mercer, Ms. Elwell said.
BCPP oversees the investment of assets for the Bedfordshire Pension Fund, Bedford; Cumbria Local Government Pension Scheme, Carlisle; Durham County Council Pension Fund, Durham; East Riding Pension Fund, Goole; Lincolnshire Pension Fund, Lincoln; North Yorkshire Pension Fund, Northallerton; Northumberland County Council Pension Fund, Morpeth; South Yorkshire Pension Fund, Barnsley; Surrey Pension Fund, Kingston upon Thames; Teesside Pension Fund, Middlesbrough; Tyne and Wear Pension Fund, Sunderland; and Warwickshire County Council Pension Fund, Warwick.
