ANALYSIS-Britain's local council pensions bet big on shadow lending
Published on: May 13, 2026, 11:34 a.m. | Source: Devdiscourse
Ludovic Phalippou, a professor at Oxford Said Business School, said signs of stress among borrowers could lead to losses for non-bank loan funds and make it harder for schemes to exit. While the most recently available LGPS data shows local authority retirement fund allocations to private debt were 3% of portfolios on average in 2024, a Reuters analysis showed some council schemes' exposures were far higher.
