UK public pension pool Border to Coast Pensions Partnership has made £540m (€627.4m) worth of new capital commitments to six new infrastructure funds.
The £46bn asset manager has made a $100m (€82.3m) commitment to Latin America focused Patria Infrastructure Fund IV infrastructure fund, backed Squared Capital’s ISQ Global Infrastructure Fund III fund with $150m and invested £40m in Sleaford Renewable Energy Plant in the UK in a deal representing its first co-investment.
Border to Coast has invested €110m into Nordic infrastructure fund Infranode II, $125m into the BlackRock Global Renewable Power Fund III fund and made a £150m commitment to Stonepeak Global Infrastructure Fund IV, a fund planning a $13.2bn second close.
The asset manager for 11 UK local authority pension funds said the latest investments are part of its second infrastructure offering, which received £760m of commitments from ten partner funds in April 2020 after fully investing an initial £675m last year.
Mark Lyon, the head of internal management at Border to Coast said: “Infrastructure is a key asset class for our partner funds as they seek attractive investment opportunities and diversification of risk.
“Thanks to our collective size and our in-house expertise, we have been able to access high-quality investment opportunities, including our first co-investment, whilst generating significant collective fee savings for our investors over the long term.”
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