UK public pension pool Border to Coast Pensions Partnership has invested in two infrastructure funds as part of its second private-markets investment programme.
The £55bn (€63.8bn) asset manager of 11 local government pension schemes (LGPS) said it had invested $125m (€102m) in EQT Infrastructure Fund V, a global value-add fund with a $12.5bn fundraising target, and €115m in Antin Mid-Cap Fund I, a European value-add infrastructure fund.
The announcmment follows £540m worth of investments in six infrastructure funds revealed earlier this year.
LGPS funds have also provided an additional £2.7bn for Border to Coast’s third private-markets investment programme, which will invest in infrastructure, private equity and private credit funds over the coming year.
Pension funds committing to the third programme include those for Bedfordshire, Cumbria, Durham, East Riding, North Yorkshire, Surrey, South Yorkshire, Teesside, Tyne & Wear and Warwickshire.
Border to Coast said the latest commitments represented a 90% increase over for the first two tranches and increases its to Coast’s private market programme to £5.7bn.
Mark Lyon, the head of internal management at Border to Coast, said: “The increase in commitments by our partner funds reflects the importance of private markets to deliver their investment strategies, and underscores the confidence they have in Border to Coast to deliver the right investment opportunities for them.
“As long-term investors we recognise the real value in integrating ESG factors, giving us a richer understanding of risks and opportunities in potential investments.
“Through our open and transparent due-diligence process, we look forward to working with strategic partners who share our long-term approach to investing.”
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