State Street collaborates with LGPS Central 23 February 2024UK Reporter: Jack McRae
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State Street has been appointed as the fund administration services provider for LGPS Central’s private markets products.
The collaboration aims to bolster efficiency and strengthen governance as well as provide long-term, scalable solutions.
State Street will support an initial 13 funds managed by LGPS Central and its third-party managers, offering fund administration, registration services, investor services and regulatory reporting services.
Neil Wain, head of investment operations at LGPS Central, says, “State Street [will help] us to reduce operational risk and provide a robust system that supports and strengthens our private markets offering.
“The system will enable us to easily expand the number of vintages and funds with little resource impact, providing efficiencies over the long term for our partner funds.”
Brian Allis, head of UK sales and client coverage at State Street adds: “Private markets are an increasingly important segment of institutional investor allocations as they seek diversified returns.
“As private assets are typically more complex and specialist than public asset portfolios, deeper expertise is necessary to ensure funds are being administered and managed in the most efficient ways possible.”
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