A UK local government pension services provider, the Local Pensions Partnership (LPP), has launched a new fund aimed at diversifying revenue that is distinct from global equity and bond markets.
The £750 million (€842 million) LPPI Diversifying Strategies Fund targets investments across alternative strategies to avoid overdependence on market factors. It is looking to tap into a wide range of relative value and macro directional opportunities in global capital markets.
The new strategy will give clients “a diversifying building block” in their allocation, as well as exposure to factors that could enhance long-term returns, the fund said.
Susan Martin, chief executive of the LPP, said: “With LPP’s scale, we are able to access different and niche investment strategies which are often closed to new investors, providing innovative, practical implementation solutions for our clients.”
The LPP has previously launched a £599 million fixed income fund, a £1.3 billion credit fund, a £1.5 billion global infrastructure fund, a £1.8 billion private equity structure and a £5 billion global equity fund.
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