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Worcestershire County Council Pension Fund
The fund was established in 1987 as the pension vehicle for Worcestershire County Council employees under the Local Government Pension Scheme.
Worcestershire County Council Pension Fund
The fund was established in 1987 as the pension vehicle for Worcestershire County Council employees under the Local Government Pension Scheme. It participates in the LGPS pooling initiative through LGPS Central, which handles investment management and ESG oversight for the partner funds. Allocations include private equity at 5 percent of assets, real estate debt and equity in the UK and Europe, and natural resources. Confirmed holdings comprise Invesco Real Estate European Fund, AEW UK Real Estate Fund, UK Forestry Portfolio valued at £54.6 million, and Sustainable International Forestry Strategy Platform valued at $106 million. The geographic footprint covers the United Kingdom, Europe, the United States, Australia and New Zealand. The fund reports 12 deals and 7 real-asset positions. It maintains a relationship with LGPS Central for pooling and ESG advice. In February 2025 the fund hosted an ESG Workshop in Worcester focused on climate risk management and SDG mapping. Governance occurs through the administering authority of Worcestershire County Council with oversight from an independent advisor and external actuary. The structure separates investment execution at the pool level from local liability management and member services.
General information
Firm type
Pension Fund
Year founded
1987
AUM
£3.5B
Location
Region
Europe
Country
United Kingdom
City
Worcester
Corporate office
County Hall, Spetchley Road, Worcester, WR5 2NP, United Kingdom
Principals
Philip Hebson
Independent Investment Advisor
Sector focus
Frequently asked questions
Who runs investment decisions at the fund?
LGPS Central Limited acts as investment pool and ESG advisor. Philip Hebson serves as independent investment advisor. Hymans Robertson provides actuarial services.
Does the fund participate in fund commitments or only direct deals?
The fund commits to pooled vehicles including Stonepeak Infrastructure Fund III, IV & V, Gresham House British Sustainable Infrastructure Fund, and Bridgepoint Direct Lending Fund IV.
What asset classes receive the largest allocations?
Public equity mandates with LGIM and LGPS Central account for the majority. Real estate and infrastructure commitments form the next largest sleeves, followed by private equity at a 5 percent target.
How does the fund approach ESG and stewardship?
It is a Tier 1 signatory to the UK Stewardship Code and a member of the Institutional Investors Group on Climate Change and Local Authority Pension Fund Forum. Climate risk and SDG mapping are discussed at annual workshops.
Which regions does the fund target for real assets?
UK commercial and residential real estate, European infrastructure, US real estate debt, and international timberland in Australia, New Zealand and Europe.
How is the fund related to LGPS Central?
Worcestershire County Council Pension Fund is one of eight partner funds that own and govern LGPS Central, which manages pooled assets and provides investment advice.
Does the fund maintain philanthropic structures?
It supports the Worcestershire Community Foundation, a local grant-making charity focused on education, health, climate and arts initiatives in the United Kingdom.
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