The Fund Pipeline

08 Jun 2016 The Fund Pipeline

The CIV officers continue to engage with investment managers in a process briefly described in the last months Fund update, i.e. the “CQC” criteria. To this end, we are delighted to have reached provisional agreement to work LongView Partners, in the active global equity space.

LongView Partners have also provisionally committed to offering an extra £500 million in extra capacity to the CIV, in addition to the investments which the boroughs could potentially move onto the CIV. This will be in addition to the existing active global equity funds currently on the CIV, one managed by Allianz Global Investors and the other by Baillie Gifford. Further to this, we are in the process of tendering for investment consultants to help with the search process for additional active global equity mandates, in order to further increase the choice for boroughs.

In the UK active equity space, we have provisionally agreed terms to work with Majedie Investments and they have agreed to offer new capacity to the CIV on a matching basis. This would potentially double the total amount of investment capacity for the London boroughs.