On the go: The circa £1.6bn London Borough of Haringey Council Pension Fund has invested £45m in The London Fund, the property and infrastructure fund established by the London CIV and Local Pensions Partnership.
The investment from the Haringey pension fund marks the second close for The London Fund, which launched in 2020 with a £150m seed investment from the circa £4.1bn London Pensions Fund Authority.
The fund, which now has assets worth £195m, focuses on real estate and infrastructure investments in the City of London, the 31 London boroughs and their immediate surrounds.
Targets include residential property, specifically build-to-rent, affordable housing, community regeneration projects, digital infrastructure and clean energy.
Councillor Yvonne Say, chair of the Haringey combined Pensions Committee and Board, said: “I am happy that through this investment in The London Fund we have shown that Haringey Pension Fund is committed to investing responsibly.
“This investment will improve our ability to pay our members pensions by providing stable, long-term cash flows while having a positive impact on the lives of Londoners,” she continued.
The Haringey scheme’s decision to invest in The London Fund was taken at a March meeting of the pensions committee, when the scheme agreed to allocate 3 per cent of assets to the fund, while also committing to cut its allocation to gilts by 3 percentage points — to 7 per cent from 10 per cent — and switch its investment in fixed interest gilts back to index-linked gilts.
At the same meeting, the fund also agreed to invest £65m in the London CIV’s Renewable Infrastructure Fund, managed by BlackRock, Quinbrook Infrastructure Partners, Foresight Group and Stonepeak Infrastructure Partners.
This article originally appeared on MandateWire.com
