State Street and LGPS Central have announced a new partnership, with the bank being appointed as the provider of fund administration services for the UK-based asset management firm. According to a press release, State Street will initially support 13 funds managed by LGPS Central and third-party managers with services pertaining to fund administration, registration, investors, and regulatory reporting.

Additionally, the bank will also provide a portfolio monitoring solution that uses online data delivery tools to facilitate effective decision making.

To prepare for the partnership, LGPS Central completed a migration of its existing funds to the State Street platform in early January. In its statement, the asset manager revealed that the partnership is expected to “bolster operational efficiency and further strengthen governance while providing long-term, scalable solutions” for its private markets offering.

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