Brunel Pension Partnership, Bristol, England hired CACEIS to provide cost transparency and benchmarking services for about £30 billion ($36.8 billion) in assets.
The three-year contract enables Brunel to comply with the Local Government Pension Scheme Transparency Code of Conduct, which requires that funds provide cost data analysis to underlying member firms.
CACEIS will provide information to the pool regarding investment and other costs.
"We have a clear set of principles at Brunel with one being adopt best practice collective governance," Matthew Trebilcock, client relationship director at Brunel, said in a news release by the pensions pool. "For us, this means ensuring we apply the same rigor to understanding our total cost of ownership, as we would to any other element of running our schemes."
This is the first time that the service has been provided externally, a spokeswoman confirmed.