People's Partnership

People's Partnership

People's Partnership was established to administer The People's Pension, a master trust serving UK employees and employers. Patrick Heath-Lay has directed the organization since 2012. The entity maintains not-for-profit status and directs surpluses toward improved financial outcomes for participants. The portfolio allocates across global equities, fixed income, infrastructure, and real estate. Segregated mandates with Amundi and Invesco cover £28 billion in public assets as of 2024-2025. Robeco manages a £3.6 billion emerging markets equity sleeve. A 10 percent stake in Private Markets Growth Pool provides exposure to UK infrastructure and real estate. Geographic reach centers on the United Kingdom with additional holdings in global developed and emerging markets. Assets total $51.2 billion. The firm employs external providers including Northern Trust and State Street for custody and Deloitte as auditor. It holds memberships in the Pensions and Lifetime Savings Association, Association of British Insurers, UK Sustainable Investment and Finance Association, and Principles for Responsible Investment. Patrick Heath-Lay continues as CEO. The not-for-profit mandate separates operational surpluses from external investor returns and directs them into member services and policy engagement. Governance ties to the Construction Workers' Charitable Trust, which has distributed over £4.75 million since 1991.