The latest investment round is supported by Northern LGPS partner funds from Greater Manchester, Merseyside, and West Yorkshire, as well as Local Pensions Partnership partner funds from Lancashire, Berkshire, and the London Pensions Fund Authority.
Since its launch in 2015, GLIL said it has acquired equity stakes in Anglian Water, Clyde Windfarm, and Forth Ports, as well as wider rail and energy assets, including a recent 30% stake in Agility Trains East, 65 intercity trains on the East Coast Mainline.
GLIL Infrastructure chief operating officer Ted Frith said: “The chancellor has expressed how critical infrastructure investment is to the immediate economic recovery and our future. Central to that message was the government’s support for the role that private capital can play in funding projects. Our latest fundraising demonstrates the incredible opportunity there is for pension funds to answer that call and to help transform our nation’s infrastructure.”
He said the latest round of investment showed the partner funds’ “faith in infrastructure as an asset class” as well as GLIL’s proposition and investment strategy.
“As the economic and social benefits of infrastructure investment are better understood, we expect to see more pension funds drive capital into the sector. Not least in the current climate, funds are looking to match their long-term liabilities with sustainable and cost-effective assets that can provide reliable returns for pension members for many years to come.”
Source: Professional Pensions