LGPS Central, one of the asset pooling companies for the Local Government Pension Scheme (LGPS), has named Paddy Dowdall as investment director for local investment.
Dowdall is a highly experienced LGPS leader, having held senior roles at the Greater Manchester Pension Fund and the Merseyside Pension Fund, two of the largest funds in the LGPS system.
In his new role, which he will take up in April, Dowdall will join the pool’s private markets team and focus on engaging with partner funds and external organisations such as Homes England and the National Wealth Fund to develop opportunities and meet local investment objectives.
Jayne Atkinson, LGPS Central’s chief investment officer, said one of Dowdall’s first tasks will be developing a local investment team.
Atkinson added: “This is a strong hire for LGPS Central. Paddy brings a wealth of experience and a deep-rooted understanding of local investment from a fund perspective, which will be essential in supporting our partner funds to deliver on their local investment objectives in line with government ambition.”
Dowdall described his prospective role as “an exciting new challenge”.
He said: “My immediate priority will be getting to know all 15 partner funds and gaining a deeper understanding of where each is on its local investment journey… I am looking forward to working collaboratively to deliver outcomes that meet both fiduciary and local objectives.”
LGPS Central is set to hit £100bn in assets, after six funds opted to join the pool following the closure of the ACCESS and Brunel pools last year.
In a press release announcing Dowdall’s appointment, LGPS Central said local investment was expected to play “an increasingly important role in local economic development, with funds needing to balance risk and return alongside social and environmental impact”.
