London CIV launches multi asset credit fund

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London Collective Investment Vehicle (LCIV) has launched its Multi Asset Credit (MAC) fund, adding to the range of investment opportunities available to its investors.

The MAC fund is the first of LCIV’s planned fixed income strategies and it has already secured the investment of £308m from four London local authorities (LLAs). It will initially invest with the CQS Credit Multi Asset fund.

Other new fixed income offerings in the pipeline include global bonds, private debt, liquid loans and long/short MAC.

The launch of the LCIV MAC fund brings LCIV’s total assets under management and oversight above £15bn, more than 40% of London’s total assets under management.

This news follows the LCIV RBC Sustainable Equity fund launch earlier this year. Managed by RBC Global Asset Management (UK) Ltd, the fund’s seed investor was the London Borough of Merton Pension Scheme, which invested £66m in the fund as part of a larger transition of assets into the LCIV.