Edmund Truell, the chairman of insurance asset bid vehicle Tungsten and former CEO of UK mid-market private equity firm Duke Street, has been appointed by London Mayor Boris Johnson as the new chairman of the London Pensions Fund Authority (LPFA).
The LPFA – the largest local government pensions scheme provider in London and one of the largest in the UK – is home to some 200 “not for profit” employers, with more than 80,000 members and fund assets of £4.2bn.
Truell has 28 years of experience in pensions, private equity and debt markets and was the founder of Pension Insurance Corp, a provider of risk management to UK defined benefits pensions funds, which he stepped down from in September this year.
“Edmund brings a wealth of experience in pensions management to build on the solid foundations laid by outgoing chairman, Anthony Mayer,” Johnson said in a statement.
“This appointment will give further impetus to the London Pensions Fund Authority to deliver value for money for Londoners, provide long-term sustainable provision for its members and to explore new ways to invest funds including in London’s infrastructure.”
Truell added, “The LPFA is already a cost effective pensions administrator for many public sector employers.
“We look forward to being the consolidator for many more, thereby delivering even better value for money to tax payers; and best in class service levels to members.
“By growing our assets under management, the LPFA will be better able to invest into long term infrastructure and housing assets, thereby delivering solid long term returns as well as societal benefits.”
Truell is currently chairman of Tungsten Corp, a newly formed £500m listed bid vehicle established to acquire insurance assets.
He is also founder chairman of Disruptive Capital Finance, which incorporates a £30m government-backed Sustainable Technology Fund, and previously served as the executive chairman and group chief executive of UK mid-market buyout house Duke Street.
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