With combined assets of approximately £45bn, and representing the retirement savings of over 900,000 scheme members across over 2000 employers, LGPS Central Limited’s Partner Funds are;
Cheshire Pension Fund, Derbyshire Pension Fund, Leicestershire Pension Fund, Nottinghamshire Pension Fund, Shropshire Pension Fund, Staffordshire Pension Fund, West Midlands Pension Fund, West Midlands Integrated Transport Authority Pension Fund, and Worcestershire Pension Fund.
Since its launch in April 2018, LGPSC has become responsible for around £20bn of these assets. Around £10bn is held in funds structured in an Authorised Contractual Scheme (ACS, itself authorised by the FCA) and around £10bn in a range of advisory and discretionary mandates. The volume of assets under management is expected to grow rapidly over the next few years as, in partnership with our Partner Funds, new sub-funds are developed and launched into which Partner Funds’ assets will transition. A range of further sub-fund launches are planned for this financial year across a range of asset classes.
LGPS Central Limited is owned equally by eight of the nine pension funds and is dedicated to the management of local government pension assets. The aim of the Company is to use the combined buying power of its Partner Funds to reduce costs, improve investment returns and widen the range of available asset classes for investment – all for the benefit of local government pensioners, employees and employers. We are also committed to fully integrating Responsible Investment and Engagement into all our investment processes.
The management of Local Government Pension Scheme funds is going through significant change, providing career-changing opportunities for those who have the relevant investment experience and who want to work within a company which values integrity, trust, transparency, diversity, fairness and partnership. LGPS Central Limited aims to be a centre of excellence and we seek candidates who share our values to help us achieve that goal.
Our objective is to be a leading investment management company working with and for our Partner Funds. With a focus on value for money and performance we want to aspire to be one of the best because this is how we will deliver the superior investment returns and low costs for our Partner Funds.
We are a diverse and inclusive employer and would welcome interest from all sections of the community.
LGPS Central Limited is now seeking to hire a Head of Private Markets to be based either in the Wolverhampton or Matlock offices of LGPS Central Limited.
About the role
Private Markets Team
The LGPSC Private Markets team manages £4bn of advisory mandates and pooled assets for our partner funds. This includes a £257m 2018 vintage pooled Private equity fund.
LGPSC is seeking to launch more pooled private markets funds in Private Equity, Infrastructure, Property and other private markets. We may also seek to manage more partner fund legacy assets under advisory agreements.
The LGPS Central’s Private Markets team has two objectives. Firstly, actively manage the existing portfolios and secondly to build out new pooled Private Market funds/platforms which will originate, underwrite and manage future Private Market investments (Funds and Direct Co-investments) on behalf of our Partner Funds.
The Head of Private Markets role at LGPS Central offers an opportunity to be part of the development and growth story of a multi-billion pound asset manager, to join an organisation where you will not only have the prospects to hone your investment skills but also be part of the product/platform development and launch.
The role will require you to support the Chief Investment Officer and will include, but not be limited to:
The Private Markets teams’ responsibilities include but are not limited to
If you are interested in applying for this role, please forward your CV with a covering letter quoting reference HPM, highlighting your key strengths and experience in relation to the job profile.
Please note that the application closing date is the 4th February 2020.
Based in the Midlands (Wolverhampton or Matlock investment Offices), the Head of Private Markets will work closely with the CIO to build a professional, high performing Private Markets function across both locations. The successful candidate will influence the investor style and culture of LGPS Central Limited. This will include working with the CIO to ensure that the size and skill base of the investor team always meets the partner funds’ needs and supporting the CIO and Client Relations function in communications with the partner funds.
Management of the Private Markets Team
People Management of the private Markets Team including Senior Portfolio Managers
Health and Safety
Performance management and reporting
Delegated Authority Levels:
As per the Investment Delegation Policy
Executive Directors, Non-Executive Directors, Heads of Service, Portfolio Managers and other LGPS Central Limited Staff.
Partner funds, Agencies, Suppliers, Legal, Private market relationships for funds and co-investments, Research providers
Need to Do
Need to Know
CFA or equivalent qualification/ relevant investment experience.
Has or can meet all the requirements of being FCA CF 30 approved person.
Values and Behaviours:
Open, fair and transparent
Honest and trustworthy
Empowered in making right decisions
Accountability for results and delivery
Aspire towards partner fund expectations
Fair treatment of staff
Challenge status quo appropriately and work collaboratively
New thinking and continuous improvement
Centre of excellence