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London Borough of Havering Pension Fund
The Fund operates as the pension scheme for employees of the London Borough of Havering, administered by the Council under the LGPS framework.
London Borough of Havering Pension Fund
The Fund operates as the pension scheme for employees of the London Borough of Havering, administered by the Council under the LGPS framework. Day-to-day administration is handled by Local Pensions Partnership Administration, while the Pensions Committee — chaired by Cllr John Crowder and supported by Section 151 Officer Kathy Freeman — sets investment strategy and appoints managers. The Fund is a member of the London CIV pool, consolidating assets with other London boroughs to access lower-cost, larger-scale investment vehicles. The portfolio is constructed across liquid and illiquid mandates. Legal & General Investment Management runs the global passive equity sleeve. On the private-markets side, known allocations include a UBS-managed commercial property portfolio focused on the UK, a global indirect real estate mandate with CBRE, and a commitment to the JP Morgan Renewable Infrastructure Fund. Through London CIV, the Fund gains access to additional pooled vehicles covering private equity, infrastructure, and other alternative asset classes (per Altss research). The Pensions Committee engages collaboratively on stewardship through memberships in the Local Authority Pension Fund Forum, the Pensions and Lifetime Savings Association, and the UK Stewardship Code. It is also a signatory to the UN Principles for Responsible Investment, integrating ESG considerations via its external managers. September 2023: The Fund's administering authority, Havering Council, declared a financial emergency citing a budget gap driven largely by rising demand for social care and housing services — placing heightened scrutiny on all long-term liabilities, including the pension scheme (per Havering Council, September 2023). Havering's structural differentiator is its dual-layer governance: local political oversight through the Pensions Committee combined with pooled execution through London CIV. This architecture means the Fund influences manager selection and responsible-investment policy at the committee level but delegates portfolio construction and day-to-day investment management to external managers and the pool operator — a model that entrenches asset-management relationships with large-scale providers like LGIM while limiting the scope for direct, idiosyncratic investment.
General information
Firm type
Pension Fund
Location
Region
Europe
Country
United Kingdom
City
Romford
Corporate office
Romford, United Kingdom
Principals
Cllr John Crowder
Chairman of the Pensions Committee
Kathy Freeman
Strategic Director of Resources (Section 151 Officer)
Sector focus
Frequently asked questions
Who sets the investment strategy for the Fund?
The Pensions Committee, chaired by Cllr John Crowder, is responsible for setting investment strategy, appointing fund managers, and ensuring the sustainable funding of future pension liabilities. Kathy Freeman serves as the Strategic Director of Resources and Section 151 Officer, providing statutory financial oversight. The Committee operates within the framework of the Local Government Pension Scheme and delegates day-to-day administration to Local Pensions Partnership Administration.
How are the Fund's assets managed operationally?
The Fund pools its assets through London CIV, a collective investment vehicle for London borough pension funds. This structure allows Havering to access larger-scale, lower-cost investment mandates alongside other London authorities. External managers run specific sleeves: LGIM manages the global passive equity allocation, UBS and CBRE handle respective real estate mandates, and JP Morgan manages the renewable infrastructure commitment.
What is the Fund's exposure to private markets?
Known private-market commitments include a UK-focused commercial property portfolio managed by UBS, a global indirect real estate mandate with CBRE, and a position in the JP Morgan Renewable Infrastructure Fund. Additional alternatives exposure flows through London CIV's pooled vehicles, which span private equity, infrastructure, and other illiquid asset classes.
Does the Fund integrate ESG into its investment process?
Yes — the Fund is a signatory to the UN Principles for Responsible Investment and the UK Stewardship Code, and it participates in the Local Authority Pension Fund Forum for collaborative engagement. ESG integration is executed primarily through its external managers, with the Pensions Committee setting the responsible-investment policy framework.
What is the relationship between Havering Council and the Pension Fund?
Havering Council is the Administering Authority for the Fund under the LGPS regulations. The Council appoints the Pensions Committee, and the Section 151 Officer (Kathy Freeman) provides statutory financial oversight. The Fund's liabilities are ring-fenced from the Council's general budget, but the Council's financial health — including a declared financial emergency in September 2023 — draws attention to the overall fiscal environment in which the pension scheme operates.
Is the Fund actively seeking co-investment opportunities alongside its pooled commitments?
Available disclosures do not indicate a separate direct co-investment program. The Fund's private-market exposure appears to be gained primarily through pooled mandates and external manager relationships. Any co-investment activity would likely occur within the London CIV pooled structures rather than through a standalone co-investment platform.
How does the Fund approach manager selection?
Manager selection is overseen by the Pensions Committee, which operates within the procurement and governance framework of the LGPS. The Committee's decision-making is informed by advice from officers and, for pooled mandates, by London CIV's operator. Known managers include LGIM for passive equities, UBS and CBRE for real estate, and JP Morgan for renewable infrastructure — reflecting a preference for large, institutional-scale providers.
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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