Door, the leading global digital due diligence and risk management platform has today announced a new strategic partnership with Legal & General Investment Management (LGIM), one of Europe’s largest asset managers and a major global investor, with total assets under management of £1.42 trillion.
From April 2022, LGIM will be using Door to streamline and optimise its information gathering and due diligence assessments on third party asset managers and their investment products through its Asset Allocation Team, which manages over £65bn for pension schemes and savers globally.
LGIM’s Asset Allocation Team will use Door to create custom due diligence questionnaires, completed by asset managers, with updates across investment risk, governance, sustainability and diversity & inclusion and culture.
Justin Onuekwusi, Head of Retail Investments EMEA at LGIM commented, “We actively partner with new technologies where they can help us streamline our manager research process and ensure we are gathering high quality information on asset managers and their strategies. Culture is an important area in manager research and we want to ensure the governance of third party asset managers is aligned with the high standards of stewardship we deliver to our own customers. We are pleased to partner with Door to ensure we are capturing that information effectively.”
Door already works with LGIM to provide its own professional investor clients with real-time due diligence information on its own investment strategies to support its clients in managing risk and conducting research.
Steven de Vries, Head of Wholesale Distribution UK, Europe and Latin America at LGIM added, “As one of Europe’s largest asset managers, we recognise our responsibility to clients to improve governance in the industry and help digitise legacy processes. We already provide our own clients with information through Door, and I am pleased we are using their platform to enhance our Asset Allocation Team’s manager due diligence process.”
Rob Sanders, Co-Founder of Door, said, “We are delighted that LGIM is using Door not only to enhance the experience it offers its own clients, but to improve its own controls and stewardship when gathering information on the asset managers in which it invests.”