For LPP, liquid alternatives are considered to encompass alternative risk premia strategies, active relative value strategies and dynamic directional strategies. The two founder funds – London Pension Fund Authority (LPFA) and Lancashire County Pension Fund (LCPF) – are targeting a 50%-55% allocation to alternatives, according to a spokesperson.The procurement is not about asset advice nor is LPP seeking anyone to perform due diligence.The procurement is open until 4 September and the contract has been valued at £3m.LPP was created by the LPFA and LCPF a year ago, and has since launched three pooled funds, for global equity, private equity, and infrastructure.It recently said it plans to launch credit, fixed income, and total return funds in the coming months. The UK’s £12.5bn (€14.2bn) Local Pensions Partnership (LPP) is looking for access to independent third party analysis as a check on its internal recommendations for alternative investments.According to a procurement notice, the pension services provider is looking for access to a “broad library of detailed investment and operational due diligence research papers”.The partnership would use such material to help “round out its thinking” about investments, according to a spokesperson. The procurement notice referred to access to external research providing a “devil’s advocate to internal investment recommendations”.The focus is on liquid alternatives, private equity, private credit and infrastructure.
What would have been a serious disaster missed residents of Buzzy Quarter on January 11, 2014 when the brakes of a container truck failed and its driver lost control.The truck came from the road crossing Capitol Bypass stretching down to the former Ministry of Labor.Eye witnesses told the Daily Observer that they saw the truck passing by without knowing that it had mechanical problems. Much to their surprise, it suddenly crashed into the fence surrounding the old Ministry of Labor building undergoing renovation.The slum community of Buzzy Quarter is home to hundreds of residents, many of which sell along the roadside while others have their provision centers near the very area where the truck crashed.The level of damage caused by the truck has not been made clear. However, when the Daily Observer reached the scene of the accident, the broken window glasses were shattered on the side where the wreckage of the truck is still parking.When the police were contacted on January 13, 2014, spokesperson Sam Collins said the Accident Division was still compiling its report to order the driver and company that owns the truck to court.According to Mr. Collins, container trucks are not allowed to ply the streets of Monrovia until the evening hours when traffic is less busy. The driver refused to abide by this rule and bypassed the main road leading to the central part of the city.Mr. Collins said the driver is in custody awaiting a court date, and they were still assessing the damage done to the building to establish the cost.He stressed that there is a restriction on containers plying the streets in the day until 6 p.m. when traffic has reduced in the streets.He warned all to abide by the restriction to avoid embarrassment with the police.Even though the police spokesman admitted to the rule being in place to restrict containers from plying the streets of Monrovia, it remains quite challenging for this restriction to be maintained.At most times in the day, 20 or 40-foot containers are seen plying streets and delivering goods from the seaport.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)