LGPS pool hires new CIO amid PE funds push

Thompson's responsibilities include contributing to the further development of the organisation, as well as helping London CIV meet the expectations and requirements of its shareholders.

London CIV is one of the eight partnerships between 89 local government pension schemes (LGPS) in England and Wales that collectively invest in assets in a bid to take advantage of economies of scale.

Weeks prior to Thompson's appointment, the organisation also announced the hiring of Michael Pratten as interim chief investment officer (CIO).

Pratten is responsible for leading the investment team in delivering the current pipeline of fund launches until Thompson joins in September.

London CIV is able to launch illiquid asset funds in private equity and private debt, following FCA's approval of the organisation's application to manage unauthorised alternative investment funds.

Thompson joins from HSBC Pension Scheme, where he served as CIO. He is also a member of the Independent Governance Committee of Zurich Insurance Company, and he has previously worked for Prudential/M&G Investments, among other firms.

Julian Pendock, the previous CIO of London CIV, left the organisation in January 2018.

London LGPS CIV is the fund manager of the pooled investments of 32 London Local Authority Pension Funds, and it has £8.2bn in assets under management.

Partner funds, such as the London Borough Of Croydon Pension Fund and London Borough of Barking and Dagenham Pension Fund, have previously committed to One Equity Partners VI and Pantheon Global Secondary Fund VI, respectively.

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