On the go: The Border to Coast Pensions Partnership has committed £540m to six new infrastructure funds, including its first co-investment.
Mark Lyon, head of internal management at the pool — which handles the assets of 11 Local Government Pension Scheme funds worth around £46bn — noted that infrastructure is a key asset class for its partner funds as “they seek attractive investment opportunities and diversification of risk”.
Border to Coast’s targeted themes in infrastructure include operational value add, greenfield, energy transition, digital revolution and emerging markets.
The new investments are part of the pool’s second infrastructure offering, which received £760m worth of commitments from partner funds in April 2020. Now, 70 per cent of this figure has been invested.
Latin American specialist Patria Infrastructure has been given $100m (£70.8m) to invest in the Patria Infrastructure Fund IV, and will pursue “buy and build” and “consolidation” strategies.
The I Squared Global Infrastructure Fund, focuses on core-plus and value-add investments and has received $150m from the pool.
Project Ceres has received £40m from the pool. This is a minority stake co-investment in the Sleaford Renewable Energy Plant.
BlackRock's Global Renewable Power Fund III has received $125m for investment across different strategies and geographies.
Stonepeak Infrastructure Partners has been given $150m for investment in the Stonepeak Global Infrastructure Fund IV, a broad strategy that allocates across core, core-plus and value-add strategies in North America.
Finally, Nordic manager Infranode has received €110m (£94.7m) to invest in Infranode Fund II, which focuses on buy-and-hold investments in utilities, renewables, transport, social and digital sectors.
This article originally appeared on Mandatewire.com
