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Pension & sovereign funds

Greater Manchester Pension Fund

9 linked company profiles · 9 dated disclosures in this directory.

About this investor

GMPF invests contributions and pays Local Government Pension Scheme benefits for council workers and other participating employers. Its own March 2026 snapshot reports approximately £35.2 billion in assets, 440,000 members and 800 employers. Tameside Council is its administering authority, with decisions overseen by a Management Panel and scrutiny from a Local Pension Board. [1][3][2]

Selected investments below include PLP's UKLV2 venture, GLIL infrastructure, Bruntwood SciTech, Heimstaden Bostad and five listed-company share investments. Dates refer to the evidence for each relationship. GLIL's underlying assets are indirect exposure; property ownership and the businesses occupying buildings are separate. The £35.2bn March 2026 fund description is self-reported, while the £32.295bn March 2025 annual-report figure comes from a draft. These fund totals are not values of individual stakes or an audited 2026 portfolio. [4][3][5][6][8]

Read the Greater Manchester Pension Fund profile

Each card names the entity invested in. Linked companies and brands can sit below that entity. Stakes use the source’s definition and date; disclosures are selected and do not give a complete portfolio or investor register. Read the investor methodology.

Disclosed holdings & backing

Equity ownership

Bruntwood SciTech

£150m invested in 2023 · percentage not disclosed

GMPF investment announced ·

GMPF invested £150m within a £500m round of additional investment in October 2023. Neither figure establishes its ownership percentage. The current company page separately confirms the continuing three-way partnership. Campus joint ventures, tenants and Bruntwood's wider retained businesses have separate scopes.

Evidence · 2 sources
Equity ownership

Coca-Cola Europacific Partners plc

Shares valued at £1,112,144 · percentage not disclosed

Securities holdings snapshot ·

Historical GBP market value of shares, not the number of shares, acquisition cost or current valuation. The list includes holdings through L&G pooled securities vehicles and does not identify the direct-versus-pooled route for every entry. The ownership percentage and voting rights are not disclosed here. This selected portfolio investment does not establish control of the company or direct ownership of its brands.

Ownership & related brands

Evidence · 1 source
Equity ownership

Glencore plc

Shares valued at £144,622,624 · percentage not disclosed

Securities holdings snapshot ·

Historical GBP market value of shares, not the number of shares, acquisition cost or current valuation. The list includes holdings through L&G pooled securities vehicles and does not identify the direct-versus-pooled route for every entry. The ownership percentage and voting rights are not disclosed here. This selected portfolio investment does not establish control of the company or direct ownership of its brands.

Ownership & related brands

Evidence · 1 source
Fund investment

GLIL Infrastructure LLP

Fund participation · exact interest not disclosed

Fund participation page checked ·

GLIL identifies these pension funds and pools as investors. Individual interests and asset-by-asset look-through percentages are not supplied. A GLIL investment is indirect exposure to its underlying assets; member interests must not be counted as additional independent stakes in each asset. LPPI's manager role is separate from pension capital invested through it.

Ownership & related brands

Evidence · 1 source
Equity ownership

Heimstaden Bostad AB

Equity investment · exact percentage not disclosed

Equity investment announced ·

The announcement names GMPF as a new equity investor. SEK3,337m was raised from GMPF and existing shareholders collectively, not GMPF alone. Its individual amount, exact current interest and subsequent changes have not been established. This is investment in Heimstaden Bostad, not a verified stake in the separate Heimstaden AB shareholder.

Evidence · 1 source
Equity ownership

Shell plc

Shares valued at £315,581,946 · percentage not disclosed

Securities holdings snapshot ·

Historical GBP market value of shares, not the number of shares, acquisition cost or current valuation. The list includes holdings through L&G pooled securities vehicles and does not identify the direct-versus-pooled route for every entry. The ownership percentage and voting rights are not disclosed here. This selected portfolio investment does not establish control of the company or direct ownership of its brands.

Ownership & related brands

Evidence · 1 source
Equity ownership

The Coca-Cola Company

Shares valued at £9,593,167 · percentage not disclosed

Securities holdings snapshot ·

Historical GBP market value of shares, not the number of shares, acquisition cost or current valuation. The list includes holdings through L&G pooled securities vehicles and does not identify the direct-versus-pooled route for every entry. The ownership percentage and voting rights are not disclosed here. This selected portfolio investment does not establish control of the company or direct ownership of its brands.

Ownership & related brands

Evidence · 1 source
Fund investment

UK Logistics Venture 2 (UKLV2) · Astley development venture

Stake not disclosed

Venture formation announced ·

The 2022 announcement identifies UKLV2's investors; PLP's January 2025 acquisition announcement connects Astley to that venture. These are venture-level investments, not verified direct stakes in an Astley property company or current land-title ownership. Exact percentages and subsequent changes remain unverified.

Ownership & related brands

Evidence · 3 sources
Equity ownership

Unilever PLC

Shares valued at £137,126,248 · percentage not disclosed

Securities holdings snapshot ·

Historical GBP market value of shares, not the number of shares, acquisition cost or current valuation. The list includes holdings through L&G pooled securities vehicles and does not identify the direct-versus-pooled route for every entry. The ownership percentage and voting rights are not disclosed here. This selected portfolio investment does not establish control of the company or direct ownership of its brands.

Ownership & related brands

Evidence · 1 source
Investment history & research notes
  • UKLV2 / Peel

    PLP's 16 June 2022 announcement names GMPF alongside majority investor Ivanhoé Cambridge, Peel L&P and PLP. It does not disclose GMPF's percentage. Venture investment is separate from ownership of Peel Group, the PLP management platform or a particular warehouse title. [19]

  • Heimstaden Bostad · March 2023

    GMPF joined as an equity investor. The SEK3,337m announced fundraising was from multiple shareholders collectively; no individual GMPF cheque or current percentage was established. [17]

  • Bruntwood SciTech · October 2023

    GMPF invested £150m within £500m of additional investment. The current company website confirms its partnership with Bruntwood and Legal & General. Dividing fundraising amounts does not produce a company ownership percentage. [15][16]

  • Listed investments · March 2025

    Coca-Cola, CCEP, Unilever, Glencore and Shell are selected equity investments in the dated holdings list, including pooled exposure. Its AB InBev-related entries are bonds; those do not establish voting share ownership. [7]

  • Property holdings · March 2026

    GMPF lists Soapworks, Chorlton Shopping Centre, Chantry Place and Morgan Quarter, alongside other properties. Asda, Sainsbury's, Premier Inn and Novotel premises in this disclosure are property holdings; this does not establish ownership of those brands. The fund profile lists selected properties. [8]

  • GLIL · August 2026

    The £400m of additional commitments announced by GLIL came from multiple members collectively. GMPF's individual contribution and underlying asset percentages are not disclosed. GLIL's own dated 2026 figures supersede older platform totals on GMPF's general explainer. [14][10]

  • Responsible investment and tax scope

    GMPF targets net-zero portfolio emissions by 2050 and describes shareholder engagement. This is not a claim that it has already divested all fossil-fuel shares. The draft 2025 accounts report £4.058m of irrecoverable overseas dividend withholding tax; that is not UK corporation tax paid and is not used as a UK cash headline. [4][5]

About & portfolio changes: sources · 19

Research reviewed . Sources for individual investments are included on their disclosure cards.

  1. 01
    About Greater Manchester Pension Fund (opens in a new tab)

    GMPF · Public-service pensions, participating employers and Droylsden administration base; older headline counts are not substituted for the dated 2026 snapshot

    Accessed 16 Oct 2026
  2. 02
    How GMPF is run (opens in a new tab)

    GMPF · Tameside administering authority, Management and Advisory Panels, Director of Pensions and Local Pension Board scrutiny

    Accessed 16 Oct 2026
  3. 03
    Independent Person: fund and governance description (opens in a new tab)

    GMPF · Self-reported 31 March 2026 snapshot: approximately £35.2bn assets, 440,000 members and 800 employers; recruitment notice, not audited accounts

    Accessed 16 Oct 2026
  4. 04
    How does GMPF invest? (opens in a new tab)

    GMPF · Asset classes, external managers, Northern Private Equity Pool, property and impact portfolios; net zero by 2050 and shareholder engagement; older GLIL totals are not used

    Accessed 16 Oct 2026
  5. 05
    Annual Report 2025 · draft (opens in a new tab)

    GMPF · PDF p30: £32.295bn at 31 March 2025; pp45 and 61: scheme tax treatment and £4.058m irrecoverable overseas withholding tax, not UK corporation tax paid; draft watermark

    Accessed 16 Oct 2026
  6. 06
    Policies, reports and statements (opens in a new tab)

    GMPF · Reports index labels the linked 2025 annual report as a draft

    Accessed 16 Oct 2026
  7. 07
    Mainstream securities holdings at 31 March 2025 (opens in a new tab)

    GMPF · GBP market values, including holdings of L&G pooled securities vehicles; PDF pp6 Coca-Cola/CCEP, 10 Glencore, 19 Shell, 23 Unilever; AB InBev entries on p2 are bonds

    Accessed 16 Oct 2026
  8. 08
    Direct property holdings · quarterly disclosure (opens in a new tab)

    GMPF · PDF pp1–2: 31 March 2026 Venture Fund and Main Property portfolios; premises occupied by retail/hotel brands are property interests

    Accessed 16 Oct 2026
  9. 09
    Greater Manchester Property Venture Fund (opens in a new tab)

    GMPVF / CBRE · Undated current page: £930m allocation, property debt and equity, CBRE management; allocation is not a verified deployed balance

    Accessed 16 Oct 2026
  10. 10
    About GLIL Infrastructure (opens in a new tab)

    GLIL · Pension-fund platform, named investors and LPPI manager; £4.5bn committed at 30 June 2026 and £3.4bn invested across 14 assets at 31 March 2026

    Accessed 16 Oct 2026
  11. 11
    GLIL investment portfolio (opens in a new tab)

    GLIL · 13 displayed portfolio entries, not necessarily the same count as the 14-asset metric; individual asset percentages and GMPF look-through percentages not established

    Accessed 16 Oct 2026
  12. 12
    Anglian Water investment (opens in a new tab)

    GLIL · GLIL is invested in Anglian Water Group; licensed services are provided by Anglian Water Services

    Accessed 16 Oct 2026
  13. 13
    Forth Ports investment (opens in a new tab)

    GLIL · Equity investment alongside other pension investors; port-group operations include Tilbury and Scottish ports

    Accessed 16 Oct 2026
  14. 14
    GLIL members commit £400m to accelerate expansion (opens in a new tab)

    GLIL · 19 August 2026: commitments from LPPI, West Yorkshire, Merseyside and GMPF collectively; GMPF's individual amount not disclosed

    Accessed 16 Oct 2026
  15. 15
    Bruntwood, Legal & General and GMPF investment (opens in a new tab)

    Bruntwood · 16 October 2023: GMPF invests £150m within £500m additional investment; no exact shareholder percentages supplied

    Accessed 16 Oct 2026
  16. 16
    Bruntwood SciTech: business and locations (opens in a new tab)

    Bruntwood SciTech · Current page confirms Bruntwood / Legal & General / GMPF joint venture and selected office, lab and campus destinations

    Accessed 16 Oct 2026
  17. 17
    Heimstaden Bostad welcomes GMPF equity investment (opens in a new tab)

    Heimstaden Bostad · 6 March 2023: SEK3,337m raised from GMPF and existing shareholders collectively; no GMPF individual amount or exact percentage supplied

    Accessed 16 Oct 2026
  18. 18
    About Heimstaden Bostad (opens in a new tab)

    Heimstaden Bostad · European residential owner/operator; business scope distinct from investor Heimstaden AB and from a complete shareholder register

    Accessed 16 Oct 2026
  19. 19
    PLP forms UKLV2 (opens in a new tab)

    PLP · 16 June 2022 venture formation; GMPF co-investment with no exact percentage supplied

    Accessed 16 Oct 2026