Durham County Council Pension Fund

Nick Orton serves as Head of Pensions, leading the internal team responsible for administration and oversight. However, the majority of strategic asset allocation and manager selection is carried out by Border to Coast Pensions Partnership, the asset pool jointly owned and governed by Durham and ten other local authority funds. The Corporate Director of Resources, John Hewitt, holds overall financial accountability for the fund within the council.

Border to Coast is one of eight UK local government pension scheme pools, launched in 2018. Durham County Council is one of 11 founding partner funds that own and govern the pool. Border to Coast manages listed equity, fixed income, private equity, and infrastructure portfolios on behalf of the partner funds, aiming to achieve cost savings and access to strategies that would be impractical for individual authorities to pursue independently.

The fund maintains a mix. It holds legacy direct investments including a UK commercial property portfolio and a stake in the CBRE Global Property Fund. New allocations across most asset classes — including private equity and infrastructure — are generally made through Border to Coast. The fund retains discretion over local and certain legacy holdings not transferred into the pool.

Through Border to Coast's private equity program, the fund accesses growth capital and buyout strategies. Border to Coast invests in mid-market and growth-stage companies, primarily through fund commitments rather than direct co-investments, according to the pool's published investment statements.

The fund is a signatory to the Principles for Responsible Investment via its participation in Border to Coast. It is a member of the Local Authority Pension Fund Forum, a collaborative engagement group, and the Institutional Investors Group on Climate Change, which focuses on climate risk and low-carbon transition. The pool's stewardship policy applies across all partner funds' pooled assets.