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London Borough of Hammersmith & Fulham Pension Fund
The fund launched in 1974 as the statutory retirement scheme for employees of the London Borough of Hammersmith & Fulham, a local government body.
London Borough of Hammersmith & Fulham Pension Fund
The fund launched in 1974 as the statutory retirement scheme for employees of the London Borough of Hammersmith & Fulham, a local government body. It pools contributions from the council and its workers, with governance resting with the borough's pension committee. The Tri-Borough shared-services arrangement — partnering with the City of Westminster and the Royal Borough of Kensington and Chelsea — consolidated pensions and treasury functions to streamline administration across west London. Asset allocation spans direct holdings and pooled vehicles, with a focus on real estate, infrastructure, private equity, venture capital, natural resources, and secondaries. Confirmed investments include the Man Group Community Housing Fund (residential), Darwin Alternatives Leisure Fund (mixed-use), and Alpha Real Capital Ground Rents (commercial), all United Kingdom-based. The fund also maintains a dedicated capital fund for local projects. Geographic concentration is domestic, though the London CIV — where LBHF sits as a shareholder and member — pools buyer power with 31 other London LGPS funds, opening access to global strategies. Team size is not publicly disclosed. The London CIV acts as the primary investment vehicle, selecting and monitoring underlying managers, while external managers run discrete mandates. The fund belongs to the Local Authority Pension Fund Forum for collaborative shareholder engagement and the Pensions and Lifetime Savings Association, the UK industry body. No recent senior appointments or strategy shifts have been publicly reported. Unlike most single-family offices or standalone pension funds, LBHF operates inside a municipal shared-services compact and an asset-pooling collective. The Tri-Borough initiative merges back-office pension functions with two neighbouring boroughs, and the London CIV further aggregates governance and manager selection. This layered pooling — administrative and investment — makes the fund's governance architecture more interlocking than a typical 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
Sector focus
Frequently asked questions
Who runs investment decisions at the fund?
Investment decisions are governed by the borough's pension committee and executed primarily through the London Collective Investment Vehicle (London CIV), where LBHF is a shareholder. The CIV selects and monitors underlying managers on behalf of member funds. For certain mandates, the fund also engages external managers directly.
How does the Tri-Borough arrangement affect the fund's operations?
The Tri-Borough shared services initiative merges pension and treasury administration across Hammersmith & Fulham, the City of Westminster, and the Royal Borough of Kensington and Chelsea. This consolidates back-office functions, aiming for efficiency gains and shared expertise. Investment strategy and fiduciary responsibility remain with each borough's own pension committee.
What is the London CIV, and how does the fund use it?
The London CIV is the collective investment vehicle for London's 32 Local Government Pension Scheme (LGPS) funds. LBHF is both a shareholder and a participating member. Through the CIV, the fund gains access to pooled investment funds across multiple asset classes, reducing costs and expanding manager access beyond what a single borough scheme could negotiate alone.
Which sectors does the fund explicitly avoid?
Exclusion policies are not publicly detailed on the fund's website. However, as a Local Authority Pension Fund Forum member, the fund engages collaboratively on shareholder issues including climate risk and governance. Specific sector bans — such as tobacco or thermal coal — would be stated in the fund's investment strategy statement, which is not reproduced publicly online.
Does the fund invest outside the United Kingdom?
Reported holdings are domestic, including UK-based residential, commercial, and mixed-use vehicles. However, through London CIV pooled funds, the fund gains exposure to global strategies across listed and private markets. The precise geographic split of underlying assets is not broken out in public documents.
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