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City of London Corporation Pension Fund
The fund entered the Local Government Pension Scheme in 1974 and sits inside the City of London Corporation, the ancient governing body of the Square Mile.
City of London Corporation Pension Fund
The fund entered the Local Government Pension Scheme in 1974 and sits inside the City of London Corporation, the ancient governing body of the Square Mile. While the Corporation itself generates revenue from property, markets, and services, the pension fund is a statutory obligation — assets are ring-fenced for beneficiaries and distinct from the Corporation's own balance-sheet. Caroline Al-Beyerty, the Corporation's Chamberlain and CFO, oversees the financial architecture around the scheme, with day-to-day pension administration run by Graham Newman. Strategy skews toward alternatives for a public fund of this size. Public filings show commitments across buyout, growth, venture capital — including early-stage and seed — distressed debt, mezzanine, secondaries, and special situations. The fund is a shareholder in London CIV and routes pooled equity and fixed-income mandates through that vehicle while retaining direct sleeves in UK commercial and residential property. Three named real-estate holdings appear in disclosures: the Aviva Investors Lime Property Fund, the M&G Secured Property Income Fund, and the M&G UK Residential Fund. Geographic footprint is UK-heavy with a London bias, consistent with the member base. The scheme serves about 3,700 members and sits alongside the City Bridge Foundation, the Corporation's 900-year-old charitable arm. The fund is a signatory to the UN-supported Principles for Responsible Investment since December 2018 and participates in the Local Authority Pension Fund Forum for collaborative engagement. Additional memberships include the Pensions & Lifetime Savings Association and the Pension Fund Investment Forum. The structural differentiator is its dual identity — a small LGPS fund inside the governance apparatus of one of the world's oldest continuous municipal institutions. That inheritance gives it direct exposure to the City of London Corporation's internal investment knowledge and the pooled purchasing power of London CIV, even as it maintains a distinct alternatives book that reads more like an endowment than a typical UK local-government scheme.
General information
Firm type
Pension Fund
Year founded
1974
Location
Region
Europe
Country
United Kingdom
City
London
Corporate office
London, United Kingdom
Principals
Graham Newman
Pensions Administration Manager
Caroline Al-Beyerty
Chamberlain and Chief Financial Officer, City of London Corporation
Sector focus
Frequently asked questions
Who runs investment decisions at the City of London Corporation Pension Fund?
The administering authority is the City of London Corporation. The Chamberlain and Chief Financial Officer, Caroline Al-Beyerty, holds senior financial oversight, while Pensions Administration Manager Graham Newman runs day-to-day operations. The fund pools the majority of its listed assets through London CIV, so many manager-selection and portfolio-construction decisions happen at that pooled level.
How does the fund access private markets?
Through a combination of direct fund commitments and pooled vehicles. Disclosed investments span buyout, venture capital, growth equity, distressed debt, mezzanine, and secondaries. The fund also holds direct UK property exposure via vehicles managed by Aviva Investors and M&G, including commercial and residential strategies.
What is London CIV and how does the fund use it?
London CIV is the collective investment vehicle established to pool the assets of London's Local Government Pension Scheme funds. The City of London Corporation Pension Fund is a shareholder and routes its mainstream equity and fixed-income allocations through London CIV, which reduces costs and strengthens governance across the 32 London boroughs and the City of London.
Does the fund participate in fund commitments or only direct deals?
The strategy is primarily fund-of-funds and pooled vehicles. Disclosed positions are in funds such as the Aviva Investors Lime Property Fund and M&G UK Residential Fund, alongside a shareholding in London LGPS CIV Ltd. No direct co-investment positions are disclosed in public records.
Which sectors does the fund explicitly avoid?
Public disclosures do not list formal exclusionary screens, but the fund's PRI signatory status and membership in the Local Authority Pension Fund Forum indicate an active responsible-investment posture. The forum runs collaborative engagement campaigns on climate change, labour standards, and governance; those priorities likely shape the fund's stewardship approach.
How is the fund related to the City Bridge Foundation?
The City Bridge Foundation is the grant-making charity of the City of London Corporation, originating from bridge tolls collected from London Bridge in the 12th century. It is a separate legal entity from the pension fund, though both sit inside the Corporation's governance framework. The pension fund is a statutory LGPS scheme; the foundation is a philanthropic trust.
What is the fund's known posture on co-investments alongside external GPs?
No public disclosures reference a co-investment programme. The fund's alternatives exposure comes through multi-manager and fund-of-funds structures, consistent with a pension fund of this scale that relies on London CIV and external fund managers for most allocations.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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