Global asset servicer State Street has been selected to provide fund administration services for the private markets products of UK pension fund LGPS Central.
LGPS Central manages the pooled assets of eight Midlands-based local government pension schemes in the UK and has combined assets in the realm of £60 billion.
The mandate will initially cover 13 funds managed by LGPS and its third-party managers.
State Street offers Fund Connect ETF to European clients
Private Markets Fund Admin Report 2023
State Street will provide fund administration, registration, investor and regulatory reporting services as part of the mandate.
“Private markets are an increasingly important segment of institutional investor allocations as they seek diversified returns,” said Brian Allis, head of UK sales and client coverage at State Street.
“As private assets are typically more complex and specialist than public asset portfolios, deeper expertise is necessary to ensure funds are being administered and managed in the most efficient ways possible.”
