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Cheshire Pension Fund
The Cheshire Pension Fund administers pension plans, long-term disability plans, retiree health insurance plans, and other benefits for eligible government...
Cheshire Pension Fund
The Cheshire Pension Fund administers pension plans, long-term disability plans, retiree health insurance plans, and other benefits for eligible government employees. It provides these services to support the financial security of government employees. The fund's primary function is to manage and distribute benefits according to established rules and regulations.
General information
Firm type
Pension Fund
Location
Region
Europe
Country
United Kingdom
City
Ellesmere Port
Corporate office
Ellesmere Port, United Kingdom
Sector focus
Frequently asked questions
How does Cheshire Pension Fund's membership in LGPS Central shape its investment activity?
Cheshire is one of nine Midlands-based LGPS funds that pool assets through LGPS Central. The pool provides manager selection, due diligence, and monitoring services. Cheshire's secondaries commitments are typically made through funds and co-investment vehicles sourced by LGPS Central, though the Pensions Committee retains authority over strategic asset allocation and pacing.
What types of secondaries transactions does the fund pursue?
The fund participates in LP-led transactions — purchasing existing fund interests from other investors seeking liquidity — and GP-led restructurings, including continuation vehicles and tender offers. Annual reports indicate activity across private equity, infrastructure, and private credit secondaries.
Who advises the Pensions Committee on investment decisions?
The Pensions Committee receives investment advice from LGPS Central's client team, an independent investment adviser, and external consultants. The committee consists of elected councillors from Cheshire West and Chester Council and Cheshire East Council, along with scheme member and trade union representatives.
What is the fund's current allocation to private markets?
The fund's 2023 annual report indicates a strategic target of 5% to private equity, with secondaries representing the primary pathway. Infrastructure and private credit sit alongside this allocation. The committee reviews targets triennially following actuarial valuations.
Does Cheshire Pension Fund co-invest directly alongside its secondaries managers?
The fund has the capability. Through LGPS Central, it can access direct co-investment opportunities that arise from GP-led secondaries processes. The extent of direct co-investment varies by vintage and manager relationship.
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