Northern Trust has been appointed by Warwickshire Pension Fund, a UK Local Government Pension Scheme (LGPS) holding approximately £3.6 billion in pension assets (approximately US$4.8 billion), to provide global custody, valuation reporting, capital call execution and performance measurement services. Capital call execution is a servicing function particularly relevant to funds expanding private market allocations, where commitments are drawn down over time and require precise cash-flow and reporting coordination.

Warwickshire Pension Fund is one of 18 partner funds within the Border to Coast Pensions Partnership, one of the largest LGPS pools by assets under management in the UK. The appointment comes as LGPS funds continue to adapt their operating models in response to the UK government's Fit for the Future agenda, which sets expectations around asset pooling, governance, private market investing and closer alignment between administering authorities and pools. The LGPS as a whole manages assets on behalf of millions of public sector workers, making the robustness of custody, valuation and performance infrastructure a foundational requirement rather than a back-office detail. Northern Trust will support Warwickshire Pension Fund with asset servicing capabilities that bring together custody data, reporting and performance information, helping to support the Fund's evolving requirements.

"Warwickshire Pension Fund sought a provider with the expertise and operating model to support its long-term strategic objectives," said Ian Hamilton, head of Asset Owners, EMEA, at Northern Trust. "At a time of meaningful change for the LGPS sector, funds are balancing day-to-day stewardship with the need to adapt for the years ahead. We look forward to supporting the Fund with a range of asset servicing solutions, leveraging our experience in the sector to help them navigate the continued evolution of the LGPS landscape."

Northern Trust has for many decades been dedicated to serving the needs of global asset owners. Within the asset owner segment, its goal is to empower the missions of its clients, supporting their investment and operational objectives so that they may serve their fund members and their communities. For the LGPS sector, competitive appointments of this kind form part of a broader pattern in which pools and partner funds continue to review and appoint specialist service providers as their investment and operating models evolve under the Fit for the Future framework.

Source: GlobalFinTechSeries