Local Pensions Partnership launches new PE vehicle
Local Pensions Partnership (LLP) has received FCA accreditation for its new private equity vehicle LLP Investments (LLPI).
The development will see LLPI take over management of the £1.8bn of combined private equity assets of the London Pensions Fund Authority and Lancashire County Pension Fund – its two shareholder funds.
The firm will look to make buyout, growth capital, distressed and special situations investments.
The accreditation also enables LLPI to act as a directly appointed investment manager for other funds.
LLP launched its £5bn Global Equity Fund in November 2016. The firm also plans to launch funds dedicated to other asset classes including infrastructure, total return, fixed income and credit.
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