Six Local Authorities Join ACCESS UK Core Fund

The ACCESS UK Core Fund has announced the addition of six new local authorities, significantly broadening the participant base in this real estate-focused investment vehicle. Norfolk, East Sussex, Suffolk, Cambridgeshire, Isle of Wight, and Hertfordshire councils have officially joined the fund, reinforcing the trend of Local Government Pension Schemes (LGPS) pooling resources for improved efficiency and investment outcomes.

These six local authorities will join Essex County Council and Hampshire County Council, who were already active investors in the fund, further enhancing the scope of the collaborative investment pool.

The ACCESS UK Core Fund is part of the larger ACCESS pool, a consortium of 11 LGPS, managing a combined total of approximately £45 billion in assets. ACCESS, which stands for “A Collaboration of Central, Eastern and Southern Shires,” has been at the forefront of asset pooling initiatives aimed at streamlining investment practices among local government pension schemes. The Core Fund is specifically designed to offer exposure to core real estate investments in the UK, aligning with the broader strategy to diversify into private markets and illiquid assets.

This latest move highlights the growing shift among UK Local Government Pension Schemes to pool assets in order to achieve economies of scale, reduce costs, and improve access to alternative investments such as real estate. By joining the ACCESS UK Core Fund, these councils can access a diversified portfolio of core real estate assets managed by professional teams, while potentially benefiting from reduced investment costs.

The expansion of the ACCESS UK Core Fund marks continued progress in the UK government’s initiative to pool LGPS assets, which aims to boost investment capabilities and create more efficient pension fund management across the sector. As local authorities increasingly embrace pooled investments and alternative asset classes, the ACCESS pool remains a leader in driving innovation and improving financial outcomes for its participants.