UK - Edinburgh Council is reviewing its current arrangements for a transition manager on behalf of three authority-run pension schemes.

Goldman Sachs is currently the transition manager for the £2.8bn (€35bn) Lothian, The £190m Lothian Buses and the £120m Scottish Homes pension funds.

But the contract is due to expire, said a spokeswoman for the local authority, so Edinburgh is re-tendering as required by public service legislation.

The contract is expected to begin from 1 April 2009 and will last for 12 months though there is no immediate requirement to deliver transitions for the pension funds.