Gloucestershire County Council Pension Fund

Gloucestershire County Council Pension Fund

The Gloucestershire County Council Pension Fund was established to deliver pensions under the Local Government Pension Scheme for public sector workers in the county. Matthew Trebilcock serves as Head of Pensions and Colin Hay chairs the Pension Committee that sets policy. Assets sit at approximately 4.875 billion USD and are managed on behalf of 60,000 members and 250 participating employers. The fund allocates across real estate, infrastructure, private equity and public equities. Confirmed holdings include the Brunel UK Property Fund valued at 267 million USD, the Brunel International Property Fund at 78 million USD, a UK social and affordable housing portfolio at 180 million USD, and a Brunel Infrastructure Portfolio at 236 million USD. It also runs a 60 million USD renewable energy mandate focused on South West England. Geographic exposure spans the United Kingdom and global markets through the Brunel partnership and listed positions in companies such as Unilever, Microsoft and AstraZeneca. The fund participates as a limited partner in Brunel Private Equity Cycles and Yorkshire Fund Managers vehicles. Staff numbers are not publicly stated. The fund maintains membership in the Local Authority Pension Fund Forum, the UK Stewardship Code and the Task Force on Climate-Related Financial Disclosures. It works with service providers including Hymans Robertson as actuary and investment adviser, State Street as global custodian and Schroders Greencoat for renewable infrastructure. In February 2025 the Pension Committee reviewed the business plan, budget and 2025 triennial valuation. The fund’s structure is defined by mandatory participation in the Brunel pooling arrangement, which requires it to delegate day-to-day management of most asset classes to the partnership while retaining local oversight of the Pension Committee and direct control of certain regional mandates such as the South West renewable energy programme.