BORDER TO COAST: DELIVERING INNOVATION THROUGH PARTNERSHIP
Posted on July 26th, 2024
- Border to Coast’s annual report highlights its continued progress to date, with 82% of Partner Fund assets pooled.
- The LGPS pool has launched a range of innovative propositions in the past year including ‘UK Opportunities’, global real estate, and second ‘Climate Opportunities’ strategy.
- Continues to deliver greater value, with £106m of cumulative savings for Partner Funds to date.
Border to Coast Pensions Partnership (‘Border to Coast’) today publishes its latest annual report marking six years of successful partnership with its 11 Partner Funds.
The Leeds-based LGPS pool is now responsible for managing or overseeing £52.3bn of Partner Fund assets (as at 31 March 2024, 82% of Partner Funds’ collective £64bn of assets).
Its annual report for 2023/24 outlines that in the past year it:
- Launched ‘UK Opportunities’ – an innovative multi-asset private market strategy set to deliver £0.5bn of capital into high-quality investment opportunities across the UK.
- Delivered two global real estate propositions, expanding its capabilities in a new asset class with £870m of investment.
- Expanded its external management offering with the launch of the Emerging Markets Equity Alpha Fund.
- Secured £1.4bn of commitments to its second Climate Opportunities strategy.
- Delivered a total of £105.6m of net cost savings (cumulative to 31 March 2024) and confirmed it is on track to deliver £0.5bn of cost savings by 2032.
- Achieved the ‘Sunday Times Best Place to Work’ accolade.
- Increased headcount by 15% to 157 colleagues.
Border to Coast’s Annual Report and Accounts cover activity in the period 1 April 2023 – 31 March 2024. To read it in full click here.
“Our progress in the last six years is testament to the shared vision of Partner Funds and our collective commitment to building a strong and resilient organisation that can deliver for the long-term. Together, we have built a centre of investment expertise – the largest asset manager outside London and Edinburgh – which has delivered cost effective and innovative propositions, while cutting private market fees by nearly 30%.”
