LP profile · Pension fund
The London Pensions Fund Authority
The London Pensions Fund Authority is a pension fund headquartered in United Kingdom (Europe). Ranked #342 in the 2026 Dealroom Power Law LP Ranking by realised power-law score across its venture commitments.
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.