Border to Coast doles out $1.8bn in commitments, co-investments

Jul 15, 2022 | News | 0 comments

Border to Coast Pensions Partnership, Leeds, England, made $1.8bn in commitments to infrastructure, private credit and private equity funds and co-investment opportunities run by 11 money managers.

The commitments by the pool, which is made up of 11 U.K. local government pension funds with combined assets of about £60bn, mark the final step in Border to Coast’s three-year private markets program and round out £5.7bn of planned allocations, it said in a news release.

For infrastructure, the fund made two allocations: a $204 million commitment to Axium Infrastructure North America IV, an open-ended fund that invests in core transportation, energy and social infrastructure assets in North America; and a $175m commitment to Arcus Infrastructure Partners’ Arcus European Infrastructure Fund, which primarily targets investments in European telecommunications, transport and energy sectors, focusing on emerging subsectors.

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Rounding out the latest allocations were two co-investments. The pool made a $68 million co-investment alongside DigitalBridge Investment Management into the Vertical Bridge REIT, an owner and operator of mobile communication infrastructure sites in the U.S.; and a £60 million co-investment alongside KKR into John Laing Group, a developer, owner and operator of public infrastructure assets.

“With all £5.7bn of assets committed within our first program, we are now looking ahead to the opportunities we can pursue as part of our second program,” Mark Lyon, head of internal management, said in the release.

The second three-year program was announced in April with initial commitments from member pension funds of £4.1bn.

Spokesmen for Border to Coast could not immediately be reached for further details on the commitments.

Source: Pensions & Investments

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