LGPS Central records £15bn jump in assets under stewardship
Published: September 16, 2025
LGPS Central saw a £15bn increase in the value of its assets under stewardship in the 2024/25 financial year – going from £29.9bn to £44.9bn.
Of this, £12bn was managed internally, while £6bn was committed by partner funds to private markets. It also invested £11.2bn of pooled assets domestically – including £30m in local NHS facilities.
This also included a £2bn uptick in pooled assets under management – going from £22.2bn to £24.9bn.
Additionally, the company reported a net profit before tax of £1.5m – nearly double the £855,000 it recorded in 2023/24, while net assets rose to £12.3m and total expenditure increased to £16.4m.
Reflecting on the findings, LGPS Central interim chief financial officer David Kane said: “Our purpose is to deliver long-term value for Partner Funds and their scheme members.
“This year, we demonstrated both strong growth and value for money, with over £115m of gross savings banked so far, investment performance that supports Partner Fund objectives, and improved governance through our oversight of £11bn in Partner Fund passive assets.
“We will continue to ensure that pooling delivers real and measurable benefits for our Partner Funds, and in turn, the members and communities that they serve.”
Its chief executive, Richard Law-Deeks added: “Over the past eight years, we have grown from £3bn to nearly £45bn of Partner Fund assets, with further transitions underway at pace in line with our Fit for the Future plan.
“I am proud that we have delivered, and will continue to deliver, meaningful savings, while expanding investment solutions and embedding responsible investment at the heart of our approach for a pension scheme that takes care of over a million members.”
