Scaling-Up Local Investing for Place-Based Impact
New White Paper Available Now
A Landmark Report
Unlocking Growth: A Strategic Roadmap for Local Investing
A strategic framework and practical guidance for LGPS, institutional investors, and public authorities on turning the local investing agenda into a national reality.
Britain has faced decades of underinvestment and entrenched regional inequality. Now, government reforms are challenging the £400bn Local Government Pension Scheme (LGPS) to become a cornerstone of the effort to close this gap and build a more resilient, inclusive domestic economy.
This landmark white paper provides the essential roadmap. It sets out how LGPS capital can be channelled to support local priorities while capturing the scale and efficiency of pooling – all within a disciplined fiduciary framework. We offer a thoughtful framework that bridges rigorous analysis with innovative, localised investment strategies.
Developed in Collaboration
This guidance has been developed collaboratively with seven LGPS pools representing nearly all AAs in England and Wales, alongside specialist fund managers, public bodies, and industry associations, highlighting the strong appetite across the ecosystem to advance the local investment agenda.
Who should read the report?
This report is essential reading for all partners in the place-based investment ecosystem.
Local Investing Framework
Learn how to develop a tailored local investing strategy that aligns with economic geography, Local Growth Plans, and your fiduciary duties.
Practical Delivery Model
Discover the governance, partnerships and investment vehicles needed to move from strategic intent to a robust and operational pipeline.
Common Impact Standard
Access tools and templates for measuring and reporting on local impact, ensuring consistency, transparency, and accountability.
Missed our webinars?
From Local Plan to Investable Pipeline: A guide for local government
New pension reforms mandate a ‘duty to cooperate’ between local authorities and pension funds. This is a game-changing opportunity to fund local growth – but how do you build a project pipeline that meets the needs of institutional investors?
This practical session provides a guide for local government on forging the partnerships needed to attract long-term capital and deliver on your strategic goals.
Watch the recording to learn:
- An expert breakdown of the new Pensions Bill and what it means for your authority.
- Lessons from the pioneering partnership between Greater Manchester Combined Authority and GMPF.
- How to structure deals in housing, regeneration, and SME finance with insights from leading asset managers Legal & General, Thriving Investments, and Tech South West.
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Innovative strategies to overcome the viability gap using patient capital and blended finance.
Don’t miss out on these critical insights. View the webinar now to learn how to fund your region’s future.
The Challenge is The Opportunity
Public funding alone cannot close the UK’s investment gap and achieve ambitious growth targets. The convergence of pension reform, devolution, industrial strategy and spatial planning has created a unique moment for the LGPS to lead.
Pioneering funds are already demonstrating the potential of investing in everything from affordable housing and clean energy to SME finance and regeneration. The task now is to turn this growing momentum into coordinated, nationwide action.
This white paper shows you how. Developed in consultation with over 30 sponsors and supporters including all of the LGPS pools, specialist fund managers and public sector bodies, it offers a collaborative path forward.
Sponsors
How can we support your local investing journey?
Strategic Advisory
The call for more local investment grows stronger: from governments, communities and pension beneficiaries. LGPS pools, DC schemes, endowments and local authorities are under pressure to direct more capital into local infrastructure, high-growth businesses and projects that strengthen local economies.
- But what does a credible local investment strategy really look like?
- How do you find investable opportunities across different asset classes?
- And how do you evidence outcomes in ways that stand up to scrutiny?
At The Good Economy, we provide expert strategic advice to asset allocators, fund managers and public bodies. Our work helps clients design and deliver place-based local investing strategies that are practical, evidence-based and aligned with policy priorities.
Reporting
The government’s recent policy announcements arising from the Fit for the Future (FftF) consultation process require Administering Authorities (AAs) to set out their approach to local investment, including a target percentage allocation range for local investment as a proportion of the fund and to report on the extent and impact of their local investments annually.
We developed the Place-Based Impact Investing (PBII) Reporting Framework, in partnership with a group of Local Government Pension Funds (LGPS) and asset managers, to provide a common, consistent, transparent methodology for pension funds to report on the impact of their investments.
This reporting approach has now been adopted by progressive local government pension funds including GMPF, SYPA, WMPF, Clwyd and LPFA as well as pools, DC/DB pension funds and even asset managers looking for a place-based view of their local investing activities.
Impact Frameworks
Impact reporting should ideally form part of a broader impact management process, where impact considerations are integrated at every stage of the investment cycle – from origination and screening to due diligence and final decision-making.
TGE offers an end-to-end suite of impact advisory services and tools designed to help clients meet the growing demand and regulatory requirements for greater confidence and credibility in investment strategies that create positive impact and / or pursue sustainability outcomes.
We work across all private market asset classes and sectors and have clients in the UK, Europe and Emerging Markets.
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