The £5bn (€8.1bn) pension fund of West Yorkshire County Council has appointed five new investment managers as part of its strategy to expand into private equity.

Goldman Sachs Private Equity and HarbourVest Partners will run portfolios worth £15m at the UK local authority, while teams from Schroder Ventures, JP Morgan Partners, and Barclays Capital will manage £10m each. The appointments consolidate relations with some of the fund's existing fund managers including Schroder Investment Management, an affliate of Schroder Ventures, and Goldman Sachs Asset Management, where the private equity operation is a unit.