Welsh Pension Partnership

Name

Welsh Pension Partnership

Legal name

Wales Pension Partnership

Website

https://walespensionpartnership.org

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

5,001–10,000 employees

Ownership category

akta.pro rank

Product category

Public Sector Pension Pool Management

NAICS

Pension Funds (52511), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Corporate & Public Pension Funds (DB/DC Sponsors) (FSAAAGAA)

akta.pro secondary industries

Pensions & Retirement Benefits Administration (BPAIAKAA), Taft-Hartley / Labor Union & Public Sector Retirement Systems (FSAAAGAK)

Keywords

• Pension fund pooling
• LGPS asset management
• Public sector pensions
• Authorised contractual scheme
• ESG stewardship investments

Headquarters

HQ city

Carmarthen

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Others

Revenue model

1. Pension Fund Management: WPP pools assets from eight LGPS funds (£25.8bn total assets as at 31 March 2025) and manages investments through sub-funds. WPP does not charge customers directly but operates as a cost centre for the constituent authorities.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Wales Pension Partnership is a public-sector pension pooling collaboration that consolidates the investment assets of eight Welsh Local Government Pension Scheme (LGPS) funds through an Authorised Contractual Scheme (ACS) platform. It offers pooled investment sub-funds across global equities, UK equities, fixed income, emerging markets, sustainable/climate-focused equities, and real estate, providing economies of scale, fee savings, and coordinated responsible investment for 412,000 pension scheme members. Operating costs are shared among the eight Constituent Authorities rather than charged as fees, with a forthcoming FCA-authorised Investment Management Company (IM Co) set to internalise management of pooled assets.

Product overview

Welsh Pension Partnership operates as a unified pension pooling structure built around its Authorized Contractual Scheme (ACS) platform, managed by the WPP Investment Management Company. The platform provides a range of pooled investment sub-funds spanning global and UK equities, fixed income (passive and active), emerging markets, and alternatives including real estate. Responsible investment capabilities are embedded through dedicated sustainable equity and climate-focused equity funds, alongside comprehensive ESG and stewardship services. The structure enables eight Welsh Local Government Pension Scheme administering authorities to pool assets efficiently while maintaining access to diverse investment strategies managed by appointed external investment managers.

Differentiator

Problem solved

Functional benefit

Products and services

• Authorised Contractual Scheme (ACS) Platform Authorised Contractual Scheme platform operated by Waystone Management (UK) Limited that enables pooling of Welsh LGPS pension assets, providing a unified tax-efficient UK collective investment vehicle structure with multiple sub-funds across equities and fixed income.
• Global Equity Sub-Fund Equity investment sub-fund providing diversified global equity exposure across developed and international markets for the eight Welsh LGPS funds.
• UK Opportunities Equity Fund Domestic equity sub-fund focused on UK-listed securities for the Welsh LGPS funds.
• Fixed Income Sub-Funds Suite of bond and credit sub-funds providing diversified fixed income exposure for pooled Welsh LGPS pension assets, including passive, active, and longer-duration strategies.
• Emerging Markets Equity Fund Equity sub-fund providing exposure to emerging market equities across Asia, Latin America, and other developing economies for the Welsh LGPS funds.
• Sustainable Active Equity Fund Actively managed equity sub-fund integrating environmental, social, and governance (ESG) criteria into investment decision-making for long-term capital growth.
• Climate Focused Passive Equity Fund Passive equity sub-fund with a climate-focused investment approach providing low-cost equity exposure with climate considerations for the Welsh LGPS funds.
• Real Estate Investment Programme Alternative asset investment programme providing diversified real estate exposure for pooled Welsh LGPS pension assets, including UK core, local/impact, and international real estate strategies.

Quantifiable outcome

• £19.4bn (75%) of total £25.8bn assets already pooled as at 31 March 2025
• +1 more outcomes

Named customers8 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

13 partnerships are on record, tiered minor, core and major.

• Pluto FinanceminorStrategic or Co-development Partner · 28 January 2025WPP partnered with Pluto Finance for investment in their local impact programme funding affordable housing.
• Hymans RobertsoncoreImplementation/ SI/ Consulting Partner · 17 January 2025Hymans Robertson serves as Oversight Advisor, re-appointed following comprehensive procurement. Contract commenced 1 January 2025 for 5 years with option to extend for 2 years. Supports WPP with oversight of pool operations.
• SchrodersmajorImplementation/ SI/ Consulting Partner · 5 August 2024Appointed as UK Core Real Estate and Impact/Local Real Estate investment manager following rigorous procurement. Schroders will build UK Core Real Estate portfolio transitioning to open-ended direct property investment and manage local/impact real estate with 50% assets in Wales.
• CBREmajorImplementation/ SI/ Consulting Partner · 5 August 2024Appointed as International Real Estate investment manager following rigorous procurement. Will establish open-ended investment vehicle investing in funds and direct assets globally.
• bfinancemajorImplementation/ SI/ Consulting Partner · 5 August 2024Investment consultancy firm supporting WPP's procurement processes for private markets investments.
• Schroders CapitalmajorImplementation/ SI/ Consulting Partner · 22 December 2022Appointed to develop WPP's pooled private equity investment programme following rigorous procurement with bfinance. Enables efficient access to illiquid private equity asset class.
• GCM GrosvenormajorImplementation/ SI/ Consulting Partner · 5 April 2022Appointed to implement closed-ended infrastructure investments as part of WPP's pooled private markets solutions following rigorous procurement with bfinance.
• IFM Global Infrastructure FundmajorImplementation/ SI/ Consulting Partner · 5 April 2022Appointed for open-ended infrastructure investments as part of WPP's pooled private markets solutions.
• Octopus Renewables InfrastructuremajorImplementation/ SI/ Consulting Partner · 5 April 2022Appointed for open-ended infrastructure investments as part of WPP's pooled private markets solutions.
• Robeco UKcoreImplementation/ SI/ Consulting Partner · 8 April 2020Robeco UK serves as Voting and Engagement Provider, appointed following comprehensive procurement. Implements voting policy across WPP's active equity portfolio, undertakes engagement activity, and provides reporting. Re-appointed in March 2025 for 4-year contract with 2-year extension option.
• Local Authority Pension Fund Forum (LAPFF)coreStrategic or Co-development Partner · 25 November 2019WPP is a member of LAPFF. Both Robeco and LAPFF engage with companies on WPP's behalf to drive improvements in practices and reporting and help reduce investment risks.
• Waystone Management (UK) LimitedcoreImplementation/ SI/ Consulting Partner · 10 January 2018Waystone (formerly Link Fund Solutions) serves as the FCA-authorised Operator for the ACS platform. Appointed as pool operator following rigorous procurement. Operates the Authorised Contractual Scheme on behalf of WPP with ten sub-funds across equities and fixed income.
• Russell InvestmentscoreImplementation/ SI/ Consulting Partner · 10 January 2018Russell Investments serves as Investment Management Solutions Provider, managing investments and assisting in reduction of investment management costs. Provides Enhanced Portfolio Implementation (EPI) framework for multi-manager portfolio management.

Scale indicators9 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Border to Coast Pensions Partnership: One of the largest UK LGPS pools, pooling assets of 11 administering authorities (including northern English funds). Directly comparable to WPP as a Government-mandated LGPS pool operating an ACS-style pooled investment platform with external operating partners and a focus on scale, private markets and ESG.
• Brunel Pension Partnership: LGPS pool covering ten administering authorities primarily in the South West of England. Directly comparable as a UK LGPS pooling entity with a multi-asset sub-fund structure, external operator model (Russell Investments), and similar focus on ESG, climate and private markets expansion.
• ACCESS Pool: Pool of 11 LGPS administering authorities in the East and South East of England. Comparable as a Government-mandated UK LGPS pool building pooled investment sub-funds via a collective governance structure with external partners.
• Local Pensions Partnership (LPP): LGPS pool serving the London Boroughs and surrounding authorities. Comparable as a UK LGPS pool managing pooled pension assets with an FCA-regulated investment management arm and similar shift toward in-house management.
• LGPS Central: Pool for eight Midlands-based LGPS funds providing pooled investment management through a regulated investment management company. Directly comparable as a UK LGPS pool with an FCA-authorised IMCo and similar partner-driven operating model.
• Northern Pool (NPF / Northern LGPS Collaboration): Collaboration of three North East LGPS funds (Tyne and Wear, Northumberland, Teesside). Comparable as a smaller UK LGPS pooling collaboration focused on asset pooling and shared investment solutions for public-sector pension funds.

Broad incumbents

• Greater Manchester Pension Fund (GMPF): One of the largest UK LGPS funds by AUM. Comparable as a large UK local-government pension fund with significant private markets, real estate and ESG exposure, even though it operates largely independently rather than as a formal multi-authority pool.

Others

• Russell Investments: WPP's appointed investment management solutions provider implementing the EPI framework across pooled funds. Comparable as a multi-manager investment solutions firm serving institutional pension pools globally with similar mandates.
• Waystone: WPP's appointed FCA-authorised Operator running the ACS platform. Comparable as a global fund-services firm providing ManCo, AIFM and ACS operator services to UK and European pooled investment vehicles.
• Hymans Robertson: WPP's appointed Oversight Adviser and a leading UK actuarial and investment consultancy to LGPS funds. Comparable as a specialist adviser serving UK public-sector pension schemes on pooling, governance and investment strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/wales-pension-partnership-wpp

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

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Frequently asked questions about Welsh Pension Partnership