Global
Amy Borgquist
· GPFA
About the association
A global network of asset owners.
GPFA is a member-led nonprofit where large asset owners meet as peers to compare how they lend, finance and manage the portfolios they hold for millions of savers.
0+
Asset-owner organizations across the membership
$0T+
In assets represented by member institutions
2014
Peers meeting as a group since
2020
Incorporated as a non-profit association
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 and collateral. Quarterly meetings and focused group sessions are run by members themselves.
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 $13 trillion.
$0T+in assets represented
by members, 2026
by members, 2026
What we do
The work happens in member groups.
Most of GPFA runs through small groups where members compare how they handle one part of the job. Each one stays practical.
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 meeting once or twice a year to share information and improve practice.
- 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 $13 trillion, active across the Americas, EMEA and Asia-Pacific.
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
The board and regional leads.
Members elect the board on a rotating basis. Regional leads coordinate activity in the Americas, EMEA and Asia-Pacific.
Get in touch with the GPFA secretariat.
For membership, events or press, use the channels below.
- Membership: /apply
- General & events: GPFA Membership Team
- Follow us: LinkedIn (opens in new tab)
Better financing happens between peers.
If your institution is a beneficial owner active in securities finance, there’s a seat for you at the table.