City of Westminster Pension Fund

Investment decisions are overseen by the pension fund committee of Westminster City Council, with day-to-day treasury and pensions management handled by Phil Triggs, the Tri-Borough Director of Treasury and Pensions. Triggs' remit extends across Westminster, Kensington and Chelsea, and Hammersmith & Fulham, creating a shared-services model for pension administration. Strategic asset allocation is executed primarily through the London CIV pool, which provides authorized investment funds to partner boroughs.

The fund accesses most alternative investments through London CIV's dedicated sub-funds, including vehicles for UK housing, infrastructure, and private markets. Direct manager relationships exist through legacy holdings such as the Abrdn Long Lease UK Property Fund and the Man Group Affordable Housing Fund. The LAPFF membership provides additional sourcing for shareholder engagement opportunities rather than direct investments.

The fund uses a hybrid model. Liquid assets like listed equities and bonds are managed through London CIV's pooled funds. Real estate and infrastructure holdings include both CIV sub-funds and direct fund investments such as the Abrdn Long Lease UK Property Fund and a separately held renewable infrastructure portfolio. The exact split between pool-managed and directly held assets is disclosed in the fund's annual report and accounts.

The fund does not operate a direct co-investment or direct-deal program. Alternative-asset exposure comes through fund commitments, primarily via London CIV sub-funds and legacy direct fund relationships. The LGPS pooling framework encourages co-operation across boroughs but does not yet mandate co-investment vehicles.

The fund has not published explicit sector exclusions. However, as a signatory to the UK Stewardship Code and an LAPFF member, it participates in coordinated engagement on climate transition and governance. LAPFF's engagement reports indicate the fund has supported climate-related shareholder resolutions, suggesting a tilt away from high-carbon assets without a formal divestment policy.

London CIV is the collective investment vehicle that pools assets from 32 London borough pension funds, including Westminster. CIV's authorized funds cover equities, fixed income, property, infrastructure, and private markets. The pool manages over £45 billion in aggregate. Westminster's pension committee retains fiduciary responsibility and sets the strategic allocation, then selects among CIV's sub-funds to execute that strategy.

The fund does not operate a dedicated philanthropic arm. Impact considerations are integrated through its LAPFF membership and Stewardship Code compliance rather than through a carved-out impact allocation. The renewable infrastructure portfolio and affordable-housing commitments represent the closest proxy to intentional impact investing.