Join LGPS Central at a pivotal moment-where investment meets longterm impact.
At LGPS Central, we're at the heart of one of the most exciting shifts in the pensions and investment industry. With the Government's Fit for Future agenda and wider pensions reform driving real change, now is the perfect time to join us and play a leading role in shaping how billions of pounds are invested for the benefit of local communities.
We are seeking a highly motivated and skilled Portfolio Manager - Private Credit to join our growing Private Markets team within the Investment function at LGPS Central. Reporting to the Senior Portfolio Manager, you will contribute to the ongoing development and oversight of the Company's Private Credit portfolio, supporting the delivery of longterm, riskadjusted returns for our Partner Funds.
The Private Credit portfolio is expected to grow significantly and includes investments in corporate, infrastructure and real estate private debt. The role will involve detailed evaluation of investment opportunities, ongoing portfolio management and monitoring, and supporting the development of new investment strategies, in line with LGPS Central's investment beliefs and Responsible Investment principles.
You'll be part of a collaborative team responsible for sourcing and managing highquality investment opportunities while maintaining strong governance, risk control, and alignment with the needs of LGPS Central's Partner Funds.
This is a certified role under the Senior Managers & Certification Regime (SMCR) and is subject to Fitness and Propriety assessments and other regulatory requirements.
What you'll be doing:
As our Portfolio Manager Credit, here's a flavour of what you'll get involved in:
* Support the design and delivery of LGPS Central's Private Credit strategy, contributing to the development of new fund vehicles, coinvestment programmes, and bespoke investment structures that meet Partner Fund objectives.
* Lead on the structuring, onboarding and launch of new Private Credit funds, working closely with legal, compliance, operations, and external advisers to ensure operational readiness and regulatory alignment.
* Conduct comprehensive due diligence and analysis of investment opportunities, including primary fund commitments, secondary transactions, and coinvestments across a range of private debt strategies.
* Prepare highquality investment papers, clearly articulating investment rationale, financial and credit analysis, risks, ESG considerations and value for money and present recommendations to internal Investment Committees.
* Monitor and manage the performance of the Private Credit portfolio, including manager engagement, portfolio reviews, risk assessments, performance analysis and participation in LP Advisory Committees.
* Develop a forwardlooking risk assessment process including stresstesting and scenario planning
* Ensure all investment activity is compliant with internal governance, regulatory requirements (e.g., FCA, SM&CR), and the firm's Responsible Investment and Stewardship policies.
* Contribute to investment pipeline tracking and strategic asset allocation reviews, ensuring a forwardlooking approach to deployment and rebalancing across mandates.
* Deliver timely, accurate reporting to internal stakeholders and Partner Funds, including performance, risk, pipeline activity, and ESG metrics, with input into board and committee materials.
* Act as a subject matter expert within Private Credit, supporting internal training, sharing market intelligence, and participating in industry events and collaborative working groups.
* Work collaboratively across LGPS Central, partnering with colleagues in the Private Markets team, Investment Operations, Risk, Compliance, and Responsible Investment to support a highperforming, researchled investment culture.
About Us
LGPS Central (LGPSC) Ltd is the FCAregulated asset manager for eight local authority pension funds across the Midlands. LGPSC is jointly owned on an equal shares basis by those Partner Fund, and it is responsible for managing £45bn+ of their assets. It is one of eight Local Government Pension Scheme (LGPS) asset pools in the UK.
LGPS Central's Partner Funds are:
* Cheshire Pension Fund
* Derbyshire Pension Fund
* Leicestershire Pension Fund
* Nottinghamshire Pension Fund
* Shropshire Pension Fund
* Staffordshire Pension Fund
* West Midlands Pension Fund
* Worcestershire Pension Fund
The Company is committed to responsible investment and has made responsible investment a core part of the investment process in every asset class.
LGPS Central offers a friendly and diverse, hybridworking environment with a range of employee benefits. The Company moved to new premises at i9, Wolverhampton Interchange in January 2022, close to local transport links.
Our objective is to be a leading investment management company working with and for our Partner Funds. With a focus on value for money and performance we want to aspire to be one of the best because this is how we will deliver the superior investment returns and low costs for our Partner Funds.
Requirements
The ideal candidate will bring a strong track record and extensive experience in private debt markets, gained within an asset manager, asset owner, investment bank, advisor or rating agency. Experience working with or on behalf of pension funds or other institutional investors is highly desirable. The successful individual will demonstrate:
* Proven experience in evaluating, pricing and monitoring Private Credit investment, investment origination, credit underwriting and negotiation of legal terms for primary fund commitments, coinvestments, and private debt strategies
* Solid understanding of credit risk analysis, credit risk metrics, covenant structures, investment documentation, and portfolio construction principles
* Familiarity with relevant regulatory and operational frameworks such as AIFMD, FCA regulations, and private markets fund structures (e.g. LPAs, term sheets)
* Strong analytical, financial modelling, and presentation skills, with the ability to distil complex information into clear, actionable insights
* Stakeholder management and collaborative working with external managers, legal advisers, and internal stakeholders to ensure effective investment execution and oversight
* Awareness of ESG integration and responsible investment practices in credit portfolios
* Excellent communication skills with the ability to produce clear, wellstructured reports and investment committee papers
* A collaborative and professional approach, aligned with LGPS Central's values of transparency, rigour, and longterm sustainable investing
Qualifications:
* Degree level or equivalent
* CFA or equivalent qualification/relevant investment experience
* Has or can meet all the requirements of being an FCAapproved person.
What do we offer?
We are proud to provide our people with a premium and exclusive benefits package and we are continually improving the rewards we offer. Here are a few of the valuable rewards that you will enjoy:
* Competitive salary
* An enhanced and generous Pension Scheme
* 30 days' paid holiday plus bank holidays
* 2 days paid volunteering days
* An extra paid Company Day in addition to paid holidays
* Excellent Learning & Development Opportunities
* Welfare and Familyfriendly policies
* Enhanced pay for new parents
* Access to our Employee Assistance Programme 247 Health & Wellbeing Support
* Vitality Private Medical Insurance
* Hybrid Working
* Company Service Awards
* Cycle to Work Scheme
* Company Electric Vehicle Scheme
* Nominees of the Family Friendly Employer of the Year 2022 Personnel Today Awards 2022
* Winner of the Cultural Awareness Initiative of the Year FT Advisors Diversity in Finance Awards 2023
* Winner of Diversity and Inclusion Award LAPF In Investments Award 2023