# Somerset County Council Pension Fund

Somerset County Council Pension Fund is a Pension Fund based in Taunton, United Kingdom.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Taunton, United Kingdom
- **Region:** Europe
- **Address:** County Hall, Taunton, Somerset, United Kingdom
- **Assets under management:** 4349 (Altss estimate)
- **Website:** www.somerset.gov.uk
- **LinkedIn:** https://www.linkedin.com/company/somersetcouncil

## Regulatory record

- **Reports private funds:** No

## About

Somerset County Council Pension Fund was established to manage retirement assets for local government employees and participating employers in Somerset. It functions under the oversight of Somerset Council as the administering authority and shares pension administration services with Devon County Council through Peninsula Pensions. The fund deploys capital across private equity, infrastructure and real estate. Current allocations include 1.14 percent to private equity against a 5 percent target. Confirmed holdings comprise Stepstone Brunel Infrastructure Fund, Capital Dynamics Global Secondary Fund V and South West Regional Venture Fund. Geographic exposure centers on the United Kingdom and global markets. UK property investments total $199 million in pooled funds plus an additional $300 million portfolio managed via Brunel and LaSalle. Infrastructure holdings reach $150 million. Assets under management stand at $4.3 billion. The fund maintains no disclosed headcount for internal investment staff. It participates in the Local Authority Pension Fund Forum and the Institutional Investors Group on Climate Change. November 2024: Sponsored the Somerset Pension Fund Annual Employers Meeting in Taunton covering fund performance and pooling transition. It is transitioning assets to Local Pensions Partnership Investments as the new host pool. The fund's structure as a founding member of Brunel Pension Partnership creates a shared ownership model for investment management that differs from standalone local authority arrangements. Governance remains with Somerset Council while day-to-day investment execution occurs through the pool and appointed managers.

## Sectors

- Private Equity
- Infrastructure
- Real Estate
- Fixed Income

## Questions

### How does Somerset County Council Pension Fund source and execute private-market investments?

The fund commits to private equity, secondaries and infrastructure primarily through the Brunel Pension Partnership and managers including Stepstone, Neuberger Berman and Capital Dynamics. It also holds a position in the South West Regional Venture Fund.

### What is the fund's current allocation to private equity and its long-term target?

Private equity represents 1.14 percent of assets against a 5 percent target allocation. The fund accesses these exposures via fund-of-funds and secondaries vehicles.

### Which external managers oversee the fund's equity and fixed-income portfolios?

Equity mandates are managed by Alliance Bernstein, Baillie Gifford, Fiera Capital, Harris Associates, Royal London, LGIM, Genesis, Wellington and Investec. Fixed-income mandates are run by BlackRock.

### How is the fund addressing climate-related investment policy?

It maintains a net-zero emissions target by 2040 and applies a 7 percent annual reduction goal for carbon intensity. Paris-aligned benchmarks guide passive equity allocations.

### What governance and pooling changes are underway?

The fund is transitioning from the Brunel Pension Partnership to Local Pensions Partnership Investments as its new host pool, with the move announced for implementation from September 2025.

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/somerset-county-council-pension-fund

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