TL
LP profile
The London Pensions Fund Authority
Pension fund · Founded 2016 · London, United Kingdom
69
VC firms backed
$10B
AUM
~$100M
Allocated to VC (est. 1%)
01 · Background
Who The London Pensions Fund Authority is.
- Historical Background
- The London Pensions Fund Authority (LPFA) was established in 1989 to manage the pension fund of the former Greater London Council (GLC), which was dissolved in 1986. Over the years, the LPFA has assumed responsibility for the pension obligations of other defunct public bodies, including the Inner London Education Authority (ILEA).
- Source of Capital
- The LPFA's capital is derived from its status as a defined benefit Local Government Pension Scheme (LGPS). It manages the pension assets for over 115 employers, including local government bodies, not-for-profit organizations, and charities, serving more than 99,000 members.
- Major Events
- In 2016, the LPFA pooled its pension assets with the Lancashire County Pension Fund to create the Local Pensions Partnership (LPP), a collaborative entity designed to improve efficiency and investment outcomes. The LPFA and Lancashire County Council remain the sole shareholders of the LPP, which now manages the combined assets and provides pension administration services.
- Allocation Strategy
- The LPFA invests across a diversified range of asset classes, including private equity, infrastructure, and real estate, as part of a broader portfolio. The fund has a stated commitment to responsible investment, with a plan to achieve a net-zero portfolio by 2050. Through its partnership in the LPP, the LPFA participates in large-scale infrastructure investments, including a joint allocation of up to £500 million for such opportunities.
02 · Fund commitments
The funds The London Pensions Fund Authority backs.
The London Pensions Fund Authority is a limited partner in 69 funds. 1 of them place in the Power Law Investor Ranking; those lead, best-ranked first.
True Ventures
#137 Power Law
3i Group
Abingworth
Accent Equity Partners
Advent International
Advent Life Sciences
Advent Venture Partners
Affirma Capital
ALPHA Group
Apax Partners
Apollo Global Management
Athyrium Capital Management
Baird Capital
Berggruen Holdings
BNP Paribas Asset Management
Bridges Fund Management
BV Investment Partners
Capital Dynamics
Charterhouse Capital Partners
Colbeck Capital Management
Energy & Minerals Group
Genstar Capital
Global Infrastructure Partners
HarbourVest Partners
Hermes GPE
HGGC
IL&FS Investment Managers
03 · Allocation
How The London Pensions Fund Authority’s fund book is spread.
The 69 funds The London Pensions Fund Authority backs, by where the manager is headquartered and how many funds that manager has raised.
Where those managers are based
By fund headquarters.
- Europe 4464%
- North America 2232%
- Rest of world 34%
United Kingdom 28 · United States 21 · Switzerland 4 · France 3
How established those managers are
Managers grouped by how many funds they have raised — across the 57 of 69 with a fund history on record.
Emerging funds · 24
Established funds · 33
10
1
8
2
6
3
3
4
9
5-6
6
7-9
7
10-14
8
15+
Funds raised by the manager
04 · Other LPs
Other LPs.
Other pension funds in the Power Law LP ranking, closest to The London Pensions Fund Authority by combined power-law score — Europe first, then the nearest worldwide.
🇺🇸
Eversource Retirement Plan Master Trust
$1.0B AUM
21 VC funds backed
🇸🇪
AP4
$50B AUM
17 VC funds backed
🇨🇳
China National Council for Social Security Fund (SSF)
$535B AUM
15 VC funds backed
🇸🇪
AP1
$47B AUM
26 VC funds backed
🇩🇰
PFA Pension
$100B AUM
36 VC funds backed
🇫🇷
French Pension Reserve Fund
$24B AUM
17 VC funds backed
🇩🇰
Arkitekternes Pensionskasse
$1.0B AUM
18 VC funds backed
🇳🇱
ABP
$500B AUM
24 VC funds backed