A global network of asset owners.

GPFA is a volunteer-led organization where many of the world’s largest asset owners and the teams across their businesses, from trading to legal, technology, and treasury, meet to discuss securities finance, collateral, liquidity, and the broader practice of managing institutional assets.

Members of the Global Peer Financing Association gathered on the steps of the Toronto Stock Exchange, whose marquee welcomes the association. — Members of the association at the Toronto Stock Exchange, which welcomed GPFA to mark the group's growth across the Americas, EMEA and Asia-Pacific.

The largest asset owners face the same hard questions.GPFA gives them a room to answer them together.

A member-led nonprofit, GPFA brings beneficial owners together to build a more transparent marketplace for securities financing, liquidity, collateral, and the growing set of disciplines that support them, including legal, technology, cybersecurity, private credit, and treasury and cash management. GPFA gives beneficial owners a global voice and a forum for sharing practice across every business line and supporting function. Quarterly meetings and working groups are member-led, with additional groups forming as membership needs and volunteer leaders emerge.

From four founders to a global network.

GPFA began in 2020 with four pension plans representing under $1 trillion. Today more than 40 asset owners take part, representing over $15 trillion.

$15T+in assets represented
by members, 2026

Assets represented by member institutions, by year. Figures from public GPFA and industry sources.

What we do

The innovation happens in working groups.

GPFA Working Groups are member-only forums led by your peers, covering a broad range of industry topics, from legal and cybersecurity to risk management, with new groups introduced as the association's needs evolve.

Securities lending

Earning extra return by lending out securities a fund already owns, safely.

Repo and financing

Borrowing and lending cash against high-quality assets to manage liquidity.

Collateral

Deciding what assets back a trade, and how much cushion to require.

Legal and documentation

Shared templates and standards so agreements between peers are sound.

Risk

Stress-testing counterparties, liquidity and markets before, not after.

Technology and operations

The systems and data that make all of the above run cleanly.

Private credit

A newer group exploring direct lending and what it means for owners.

ESG

How sustainability shows up in lending, collateral and stewardship.

Founded by members, governed by members.

What began as an informal circle of pension peers is now a global association of more than 40 asset owners.

Pre-2014
US and Canadian pension funds meet informally to discuss securities financing among trusted peers.
2014
The peer group begins to meet annually to share information and market experiences to improve and enhance securities lending and financing practices
2020
GPFA incorporates as a non-profit business association, founded by CalPERS, HOOPP, OPERS and SWIB, with support from eSecLending, Osler and Credit Benchmark.
2021
Partnership of the Year, Allocators' Choice Awards
In its first full year GPFA grows toward 20 members representing close to $7 trillion, with active working groups on collateral, technology and trading.
2022
Best Partnership, Securities Finance Times
Membership broadens across Canada, Australia and Europe as the association builds out its governance and member resources.
2026
Membership reaches 40+ asset-owner organizations representing over $15 trillion, with active engagement across the Americas, EMEA, and Asia-Pacific. Working groups are expanding beyond securities finance into legal, private credit, cybersecurity, technology, and treasury management, with new groups added as members identify needs.

Recognized by the industry.

2021

Partnership of the Year

Institutional Investor, Allocators' Choice Awards

For asset owners working together to improve securities-finance markets.

2022

Best Partnership of the Year

Securities Finance Times Industry Excellence Awards

Recognizing GPFA's growth and its member-led operating model.

Run by members, for members.

GPFA is deliberately small in structure and serious in purpose. A few principles keep it that way.

All volunteer

There is no paid sales force. The work is done by practitioners at member funds, on their own time.

Modest dues, no strings

Membership costs $2,500 a year. GPFA takes no bank or vendor underwriting, so the agenda stays the members' own.

Global by design

Regional co-leads keep the Americas, EMEA and Asia-Pacific active across their own time zones.

Practice over theory

Quarterly meetings and a library of plain-spoken sessions, built by members for members.

Leadership

A Member-Elected Leadership

Our Board of Directors is elected by the membership, with Regional Leads supporting collaboration and member engagement across the Americas, EMEA, and Asia-Pacific.