London Borough of Bexley Pension Fund, Kent, England, hired Redington as investment consultant, with a key focus on further advancing its responsible investment and stewardship approach.
The £1 billion ($1.2 billion) pension fund launched its search in March, according to the administrating council’s website. The fund has about 17,000 participants.
Developing its responsible investment and stewardship approach has been a key priority for the pension fund, as well as evolving its strategic asset allocation, a Redington news release said. Redington will focus on further advancing Bexley’s investment objectives in both areas, including the need to focus on climate-risk management.
Redington works with local government pension funds representing more than £30 billion of assets.
The consultant replaced Aon in the role after the contract came up for renewal, a spokeswoman for Bexley Council said in an email.