GLIL Infrastructure has added £500 million ($677 million) from two Local Government Pension Scheme (LGPS) pools, according to several news reports.
The pension scheme pools include 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, according to Professional Pensions.
The latest capital raise brings the firm’s LGPS-backed capital to £2.3 billion ($3.1 billion), of which £1.4 billion ($1.9 billion) is already deployed across 10 infrastructure assets, according to news sources.
“As the economic and social benefits of infrastructure investment are better understood, we expect to see more pension funds drive capital into the sector,” said Ted Frith, COO of GLIL Infrastructure. “Not least in the current climate, funds are looking to match their long-term liabilities with sustainable and cost-effective assets that can p