Room151‘sLGPS Investment Forum is a must-attend, ideas conference for LGPS administering authorities, LGPS pools and advisers. Concise, strategic thinking is the order of the day as delegates hear a wide range of high-level presentations interspersed by panel discussions and quality networking.
Covering the future of pooling, local investments, infrastructure, income generation and much more, the 6th edition of the forum will leave you with fresh insights to implements in your organisation.
This was my first LGPS Investment Forum and I was really impressed with the fact the room was full of decision makers in the LGPS world and the quality of the content throughout the day. Also liked that the event offered lots of opportunities for questions to the panellists and break out sessions.
managing director, Gresham House
Absolutely top draw. Always good to see top notch chairing, which can let LGPS events down.
head of funding & investment, Norfolk Pension Fund
Excellent content and good balance between pure investment and ESG debate.
head of pension investments, Treasury & banking, Worcestershire Pension Fund
Very useful content and good opportunity to meet peers in the industry.
head of fund, Lancashire County Council
Jayne Atkinson, CIO – LGPS Central
Emmanuel Bocquet, CIO – Lothian Pension Fund
Jenny Buck, CIO – London CIV
Laura Colliss, Pension fund manager – North East Scotland Pension Fund
Mark Gayler, Assistant director (pensions and investments) – Devon County Council
Marion Maloney, Head of investment – Environment Agency
Euan Miller, Managing director – West Yorkshire Pension Fund
Mushfiqur Rahman, Senior Investments Manager (Public Markets) – Greater Manchester Pension Fund
Andy Stone, Assistant director (investment strategy) – South Yorkshire Pensions Authority
Richard Tomlinson, CIO – Local Pensions Partnership Investments
Phil Triggs, Tri-Borough director of treasury and pensions – Westminster City Council
8:50
Registration & refreshments
9:20
Chair's opening remarks
Speakers
Steven Bell
economic adviser
Independent
Steven Bell
economic adviser
Independent
Steven has had a long and distinguished career as an economist and macro portfolio manager. He was an Economic Adviser at the UK Treasury, and Head of Global Markets Research and Chief Economist of Deutsche’s investment Bank. He also has investment experience, having been head of Multi Asset at Morgan Grenfell after which he ran a successful global macro hedge fund which he continued on rejoining the asset management industry in a firm which became Columbia Threadneedle Asset Management, where he was also Chief Economist. Steven has economics degrees from the London School of Economics and Stanford University.
9:25
LGPS Survey: Room151 in association with Schroders - The Results
Schroders
We want to be known as a trusted partner to the LGPS, working to help you meet your fiduciary duty, paying the future pensions of millions of Local Government employees and other key workers.
Schroders has extensive experience working with the LGPS having managed your pension funds since 1981. Schroders currently manages over £16.8 billion* of assets for 54 local authority pension funds and seven Pools.
*as at 30 June 2025
Speakers
Paul Myles
business development director, private assets
Schroders Capital
Paul Myles
business development director, private assets
Schroders Capital
Paul leads the Schroders Capital’s UK Institutional Team, where he has a particular focus working with Local Authority Pension Pools and underlying Partner Funds.
Prior to joining Schroders in April 2021, Paul worked at BMO Global Asset Management, NordeaInvestment Management and Amundi Asset Management over the previous 20 years, where he was again responsible for the UK Institutional Business with a focus on LGPS andUK Corporates. Paul has been involved in LGPS industry groups including the Investment Management Association LGPS Pool working group.
Paul was awarded an MA in Economics and Politics from AberdeenUniversity, holds the InvestmentManagement Certificate and is an Associate of the Chartered Institute of Bankers.
9:45
Pooling 2.0 - Where next for the LGPS?
As the new model takes shape, how will the relationship between funds and pools evolve? What role will asset managers play in an increasingly consolidated system, and how will investment strategies change as pools gain greater scale and influence?
Will some asset classes and approaches move to the forefront while others fall away? And as responsibilities shift, where do investment consultants and independent advisers fit into the future structure of the LGPS?
Ultimately, what does a successful end-state look like, and what will it take to build an LGPS that is truly fit for the future?
Speakers
Marion Maloney
head of investment
Environment Agency Pension Fund
Marion Maloney
head of investment
Environment Agency Pension Fund
10:25
Lead sponsor keynote
10:45
Networking break
11:15
Local Investment after the Mandate: Impact, Politics and Fiduciary Duty
Local investment has become one of the defining and most contested issues facing the LGPS. Should funds prioritise maximising returns above all else, or is there room within fiduciary duty to support wider social and economic outcomes? Can investments in housing, regeneration, energy transition and UK growth capital deliver both impact and competitive returns? And as pools take on greater responsibility, how should they balance competing local priorities across multiple partner funds?
Gresham House
Gresham House is a specialist alternative asset management group, dedicated to sustainable investments across a range of strategies, with expertise across forestry, real estate, sustainable infrastructure, renewable energy and battery storage, public and private equity.
Our origins stretch back to 1857, while our focus is on the future and the long term. We actively manage £8.5bn of assets (as at 30 June 2025) on behalf of institutions, family offices, charities and endowments, private individuals, and their advisers. We act responsibly within a culture of empowerment that encourages individual flair and entrepreneurial thinking.
As a signatory to the UN-supported Principles for Responsible Investment, we are committed to operating responsibly and sustainably. We believe taking the long view in delivering sustainable investment solutions will continue to be a growing factor in the strength of our market positioning.
Investments and co-investments are managed in the UK, through our FCA-regulated investment management platform, Gresham House Asset Management Limited, and in Ireland by Gresham House Asset Management Ireland Limited which is regulated by the Central Bank of Ireland. Our purpose is to deliver effective alternative investment solutions to help clients achieve their financial objectives whilst contributing towards the transition to a more sustainable economy.
Mark Gayler is Head of Investments at Devon County Council. Mark heads up the investment team responsible for overseeing the £5 billion Devon Pension Fund, as well as undertaking treasury management for the council. Mark is a CIMA qualified accountant and has the CFA Certificate in Investment Management. Mark is also one of the Vice-Chairs of the Brunel Client Group.
Mark has over 30 years of experience within local government, working firstly for Essex County Council in an accountancy role until 2008 and subsequently for Devon County Council. Mark moved to the Investment Team in 2010, initially as Deputy Investment Manager, before taking up his current role in 2013.
11:55
Investing through fragmentation - Inflation, Geopolitics and Resilience
The global investment environment is entering a new phase defined by geopolitical fragmentation, persistent inflation and growing uncertainty around trade, energy and security. For long-term investors such as the LGPS, many of the assumptions that shaped portfolio construction over the past decade are now being challenged.
How should funds position themselves in a world of structurally higher inflation and more volatile interest rates? What do trade tensions, geopolitical shocks and energy security concerns mean for asset allocation and risk management? And as markets become increasingly concentrated around a small number of dominant companies and themes, are investors becoming too exposed to hidden risks within public markets?
12:35
Lunch
1:35
Infrastructure Investing in a New Era: Resilience, Income and UK Growth
Infrastructure has become one of the defining asset classes for the LGPS, sitting at the intersection of long-term income generation, inflation protection, energy transition and the growing push for domestic investment. But as allocations continue to rise across the scheme, important questions are emerging around valuation, implementation and the role infrastructure should play within future portfolio construction.
Can infrastructure still deliver the combination of stable cash flows, diversification and attractive risk-adjusted returns that investors expect? Are investors paying too much for increasingly crowded assets, and where are the next opportunities likely to emerge? How should funds balance traditional core infrastructure with higher-growth strategies linked to energy transition, digital infrastructure, resilience and UK economic development?
Redwheel
Speakers
Laura Colliss
pension fund manager
NESPF
Laura Colliss
pension fund manager
NESPF
2:15
The portfolio manager showcase - what's new at the pools
Hear portfolio managers at the LGPS pools present their latest ideas and strategies, questioned by our scrutiny panel.
2:55
The Cash Flow Negative LGPS: How the portfolios must evolve
As more LGPS funds move from cash flow positive to cash flow negative positions, investment strategies are entering a new phase. For many schemes, the challenge is no longer simply generating long-term returns, but building portfolios that can provide reliable income, liquidity and resilience while still meeting return objectives.
What does this shift mean for strategic asset allocation? Will funds need to increase exposure to income-generating assets such as infrastructure, credit, property and other real assets? How should investment strategies balance illiquid growth opportunities with the need for predictable cash flows, and should funds favour distributing structures over vehicles that automatically reinvest income?
Insight Investment
Insight Investment is a leading global investment manager focusing on risk-management solutions, including currency risk management, equity protection, liability-driven investing, a comprehensive fixed income capability; and a range of multi-asset and absolute return strategies managed by a wide team of investment and solutions experts. At Insight, we have over 25 years’ experience helping clients, including local government pension schemes, develop and implement innovative strategies to meet their current and evolving objectives.
Daniel Meegan
Business Development Manager UK & Ireland Insight Investment, 160 Queen Victoria Street, London EC4V 4LA
Hear what keeps the LGPS CIOs up at night and where they see LGPS allocations heading over the short and medium term!
Speakers
Richard J Tomlinson
CIO
Local Pensions Partnership Investments
Richard J Tomlinson
CIO
Local Pensions Partnership Investments
Richard is CIO at LPPI and has responsibility for management of all investment and client activity.
Richard has more than 20 years of investment experience. Prior to joining LPP in 2017, Richard was Head of Portfolio Advisory (EMEA) at Albourne Partners for six years where he advised European investors on alternative investments, portfolio construction and risk management. Earlier in his career, Richard was Head of Multi-Strategy at Old Mutual Asset Managers and prior to this an analyst at GNI Fund Management. Richard holds a degree and a master’s degree in Engineering from the University of Cambridge and is a Chartered Alternative Investment Analyst.
Emmanuel Bocquet
chief investment officer
Lothian Pension Fund
Emmanuel Bocquet
chief investment officer
Lothian Pension Fund
Emmanuel is an experienced Investment professional who joins LPF from TPT Retirement Solutions, a pension fund consolidator where he has spent the past seven years as deputy CIO, managing multiple schemes across strategic portfolio construction, investment manager selection for all asset classes and reporting to stakeholders. Prior to TPT, Emmanuel spent over ten years at the in-house investment management arm of the National Grid UK pension scheme, latterly as head of alternative investments.
Emmanuel began his career in 1994 at Credit Lyonnais Securities with responsibilities for interest rate derivatives trading, moving on to similar roles at ANZ Investment Bank and subsequently HypoVereinsBank. Prior to joining the National Grid UK pension scheme Emmanuel worked at Gulf International Bank where he was responsible for managing a systematic investment programme.
Emmanuel holds a masters in engineering from École Centrale Paris and graduated from the Institut d’Etudes Politiques de Paris. He is also a CFA charterholder.
4:45
RI after Net Zero: Navigating politics, defence and divestment
Responsible investment is entering a new phase as geopolitical instability, energy security concerns and political scrutiny reshape the debate around ESG and sustainability. Across the LGPS, funds and pools are increasingly grappling with how resilience should be reflected within portfolio construction and long-term asset allocation.
What does resilience investing actually mean in practice? Are investors moving beyond traditional net zero frameworks towards a broader focus on energy security, supply chain resilience, food systems, biodiversity and strategic infrastructure? And as geopolitical tensions intensify, how should portfolios approach defence, dual-use technologies and other sectors that were once considered difficult or controversial from an RI perspective?
5:25
Chair's closing remarks
5:45
Drinks Reception
8:00
Private Credit for the LGPS
PGIM
PGIM, the global investment management business of Prudential Financial, Inc. (PFI), stands as a prominent player in the asset management industry with approximately ~$1.4 trillion in assets under management (as of June 2025). PGIM encompasses several specialized subsidiaries and affiliates, each focusing on distinct asset classes and investment strategies, spanning across fixed income, private credit, real estate, equities, and quantitative solutions. Each of our specialised investment units delivers deep expertise within their respective asset classes.
Schroders
Climate change, shifting demographics and rapidly evolving technology are reshaping our society, creating new risks and opportunities, within an ever increasing regulatory environment.
Recognising we play an important part in supporting DC pension schemes, our priority is to deliver positive outcomes for members.
Schroders manages over £6.7bn* on behalf of DC pension schemes across public and private markets, designed to meet yours and your members’ needs on an ongoing basis.
Housing investment for the LGPS – impact & return roundtable
L&G
L&G’s Asset Management business is a major investor across public and private markets worldwide, with £1.117 trillion in AUM.* Our clients include individual savers, pension scheme members and global institutions, who invest alongside L&G’s own balance sheet.
Our ambition is to be a leading global investor, innovating to solve complex challenges for our clients using the power of L&G. This is rooted in our investment philosophy and processes, which are focused on creating value over the long term.
We believe that incorporating financially material sustainability criteria, when relevant to our clients, can generate value and drive positive change.
*Source: L&G, global AUM as at 30 June 2025. Excludes assets managed by associates (Pemberton, NTR, BTR). The AUM includes the value of securities and derivatives positions and may not total due to rounding.
Greystar is a leading, fully integrated global real estate platform offering expertise in property management, investment management, development, and construction services in institutional-quality rental housing. Headquartered in Charleston, South Carolina, Greystar manages and operates over $300 billion of real estate in more than 250 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, managing over 1,000,000 units/beds globally. Across its platforms, Greystar has nearly $79 billion of assets under management, including over $35 billion of development assets and over $30 billion of regulatory assets under management. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business.
Mark Allnutt
executive director
Greystar
Mark Allnutt
executive director
Greystar
Mark leads our vertically integrated platform in Europe overseeing investment, development and operations in eight markets. He works closely with our in-country leaders in in Austria, Denmark, France, Germany, Ireland, Spain, Netherlands, and the UK to deliver a superior product for consumers and drive returns for investors.
Since 2013, Greystar has grown exponentially delivering purpose-designed and thoughtfully amenitised buildings at scale for multifamily, young professional and student housing.
Prior to joining Greystar in 2014, Mark was the Group Executive Commercial Director of Thames Valley Housing (TVH) where he was responsible for originating and managing the company’s joint venture vehicles. He was also a founding Director of Fizzy Living, the sovereign wealth fund-backed multifamily subsidiary of TVH, subsequently acquired by Greystar in 2021.
Dan Batterton
Head of Residential, L&G
L&G
Dan Batterton
Head of Residential, L&G
L&G
Dan Batterton is the Head of Housing at L&G, with over 20 years of experience in the property sector. His expertise in portfolio strategy has shaped L&G’s long-term acquisition, development, sustainability, and operational plans for the residential sector. L&G’s residential platform has successfully implemented strategies across various tenures, including build-to-rent, single-family housing, student accommodation, later living, and affordable housing. Dan has launched several new strategies during his time at L&G, notably the Build-to-Rent platform in 2015, which has grown to over £4 billion and nearly 10,000 apartments across the UK. Additionally, Dan has been instrumental in securing co-investment opportunities from UK and international partners to enhance the UK’s housing supply.
9:15
Roundtable finishes
Steven Bell
economic adviser
Independent
Steven Bell
economic adviser
Independent
Steven has had a long and distinguished career as an economist and macro portfolio manager. He was an Economic Adviser at the UK Treasury, and Head of Global Markets Research and Chief Economist of Deutsche’s investment Bank. He also has investment experience, having been head of Multi Asset at Morgan Grenfell after which he ran a successful global macro hedge fund which he continued on rejoining the asset management industry in a firm which became Columbia Threadneedle Asset Management, where he was also Chief Economist. Steven has economics degrees from the London School of Economics and Stanford University.
Paul Myles
business development director, private assets
Schroders Capital
Paul Myles
business development director, private assets
Schroders Capital
Paul leads the Schroders Capital’s UK Institutional Team, where he has a particular focus working with Local Authority Pension Pools and underlying Partner Funds.
Prior to joining Schroders in April 2021, Paul worked at BMO Global Asset Management, NordeaInvestment Management and Amundi Asset Management over the previous 20 years, where he was again responsible for the UK Institutional Business with a focus on LGPS andUK Corporates. Paul has been involved in LGPS industry groups including the Investment Management Association LGPS Pool working group.
Paul was awarded an MA in Economics and Politics from AberdeenUniversity, holds the InvestmentManagement Certificate and is an Associate of the Chartered Institute of Bankers.
Marion Maloney
head of investment
Environment Agency Pension Fund
Marion Maloney
head of investment
Environment Agency Pension Fund
Mark Gayler
assistant director - pensions and investments
Devon County Council
Mark Gayler
assistant director - pensions and investments
Devon County Council
Mark Gayler is Head of Investments at Devon County Council. Mark heads up the investment team responsible for overseeing the £5 billion Devon Pension Fund, as well as undertaking treasury management for the council. Mark is a CIMA qualified accountant and has the CFA Certificate in Investment Management. Mark is also one of the Vice-Chairs of the Brunel Client Group.
Mark has over 30 years of experience within local government, working firstly for Essex County Council in an accountancy role until 2008 and subsequently for Devon County Council. Mark moved to the Investment Team in 2010, initially as Deputy Investment Manager, before taking up his current role in 2013.
Laura Colliss
pension fund manager
NESPF
Laura Colliss
pension fund manager
NESPF
Richard J Tomlinson
CIO
Local Pensions Partnership Investments
Richard J Tomlinson
CIO
Local Pensions Partnership Investments
Richard is CIO at LPPI and has responsibility for management of all investment and client activity.
Richard has more than 20 years of investment experience. Prior to joining LPP in 2017, Richard was Head of Portfolio Advisory (EMEA) at Albourne Partners for six years where he advised European investors on alternative investments, portfolio construction and risk management. Earlier in his career, Richard was Head of Multi-Strategy at Old Mutual Asset Managers and prior to this an analyst at GNI Fund Management. Richard holds a degree and a master’s degree in Engineering from the University of Cambridge and is a Chartered Alternative Investment Analyst.
Emmanuel Bocquet
chief investment officer
Lothian Pension Fund
Emmanuel Bocquet
chief investment officer
Lothian Pension Fund
Emmanuel is an experienced Investment professional who joins LPF from TPT Retirement Solutions, a pension fund consolidator where he has spent the past seven years as deputy CIO, managing multiple schemes across strategic portfolio construction, investment manager selection for all asset classes and reporting to stakeholders. Prior to TPT, Emmanuel spent over ten years at the in-house investment management arm of the National Grid UK pension scheme, latterly as head of alternative investments.
Emmanuel began his career in 1994 at Credit Lyonnais Securities with responsibilities for interest rate derivatives trading, moving on to similar roles at ANZ Investment Bank and subsequently HypoVereinsBank. Prior to joining the National Grid UK pension scheme Emmanuel worked at Gulf International Bank where he was responsible for managing a systematic investment programme.
Emmanuel holds a masters in engineering from École Centrale Paris and graduated from the Institut d’Etudes Politiques de Paris. He is also a CFA charterholder.
Sponsors
Gresham House
Gresham House is a specialist alternative asset management group, dedicated to sustainable investments across a range of strategies, with expertise across forestry, real estate, sustainable infrastructure, renewable energy and battery storage, public and private equity.
Our origins stretch back to 1857, while our focus is on the future and the long term. We actively manage £8.5bn of assets (as at 30 June 2025) on behalf of institutions, family offices, charities and endowments, private individuals, and their advisers. We act responsibly within a culture of empowerment that encourages individual flair and entrepreneurial thinking.
As a signatory to the UN-supported Principles for Responsible Investment, we are committed to operating responsibly and sustainably. We believe taking the long view in delivering sustainable investment solutions will continue to be a growing factor in the strength of our market positioning.
Investments and co-investments are managed in the UK, through our FCA-regulated investment management platform, Gresham House Asset Management Limited, and in Ireland by Gresham House Asset Management Ireland Limited which is regulated by the Central Bank of Ireland. Our purpose is to deliver effective alternative investment solutions to help clients achieve their financial objectives whilst contributing towards the transition to a more sustainable economy.
Insight Investment is a leading global investment manager focusing on risk-management solutions, including currency risk management, equity protection, liability-driven investing, a comprehensive fixed income capability; and a range of multi-asset and absolute return strategies managed by a wide team of investment and solutions experts. At Insight, we have over 25 years’ experience helping clients, including local government pension schemes, develop and implement innovative strategies to meet their current and evolving objectives.
Daniel Meegan
Business Development Manager UK & Ireland Insight Investment, 160 Queen Victoria Street, London EC4V 4LA
L&G’s Asset Management business is a major investor across public and private markets worldwide, with £1.117 trillion in AUM.* Our clients include individual savers, pension scheme members and global institutions, who invest alongside L&G’s own balance sheet.
Our ambition is to be a leading global investor, innovating to solve complex challenges for our clients using the power of L&G. This is rooted in our investment philosophy and processes, which are focused on creating value over the long term.
We believe that incorporating financially material sustainability criteria, when relevant to our clients, can generate value and drive positive change.
*Source: L&G, global AUM as at 30 June 2025. Excludes assets managed by associates (Pemberton, NTR, BTR). The AUM includes the value of securities and derivatives positions and may not total due to rounding.
PIMCO was founded in 1971 in Newport Beach, California, and pioneered an active total return approach to fixed income investing. In the 50+ years since, we have worked relentlessly to help millions of investors pursue their objectives – regardless of shifting market conditions.
With over £1.72 trillion in assets under management, 1 PIMCO is one of the world’s premier investment managers offering a range of solutions across public and private markets. PIMCO has been active in the UK and Ireland institutional market since 1999 and manages approximately £22.6 billion in fixed income, multi-asset and alternative assets for a wide range of UK and Irish institutional investors including pension schemes and insurers.2 At PIMCO, our decades of global leadership in active fixed income investing have prepared us for the complexities of alternative strategies, grounded in a solid foundation of macroeconomic analysis, fundamental research, and relative value comparisons.
Over the last 15+ years, this broad perspective has provided our investors with access to new potential opportunities through alternative strategies spanning global macro, commodities, risk premia, structured and corporate credit, and the full spectrum of residential and commercial real estate markets. We manage over £150 billion in our alternatives Private Strategies3, and around £27 billion in Hedge Funds and Quantitative Strategies3, investing globally across the capital structure and spanning all major asset classes.
Today we have offices across the globe and have over 3,200 professionals4 united by a single purpose: creating opportunities and alpha for investors across every market environment.
1As of 31/03/2026, including £1.41trn in 3rd party assets and £60bn (31/12/2025) in assets managed by PIMCO Prime Real Estate (formerly Allianz Real Estate), affiliate and wholly-owned subsidiary of PIMCO and PIMCO Europe GmbH (includes PIMCO Prime Real Estate GmbH, PIMCO Prime Real Estate LLC and their subsidiaries/affiliates)
2As of 31/03/2026 in third party assets.
3As of 31/12/2025
4As of 31/03/2026
PGIM
PGIM, the global investment management business of Prudential Financial, Inc. (PFI), stands as a prominent player in the asset management industry with approximately ~$1.4 trillion in assets under management (as of June 2025). PGIM encompasses several specialized subsidiaries and affiliates, each focusing on distinct asset classes and investment strategies, spanning across fixed income, private credit, real estate, equities, and quantitative solutions. Each of our specialised investment units delivers deep expertise within their respective asset classes.
Redwheel
Schroders
We want to be known as a trusted partner to the LGPS, working to help you meet your fiduciary duty, paying the future pensions of millions of Local Government employees and other key workers.
Schroders has extensive experience working with the LGPS having managed your pension funds since 1981. Schroders currently manages over £16.8 billion* of assets for 54 local authority pension funds and seven Pools.
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