The London Borough of Newham Pension Fund has invested in the KGAL ESPF 4, a fund for renewable energy.
Newham is the first U.K. Local Government Pension Scheme customer of the KGAL Group. The U.K. pension fund is one of five European investors who participated in the second closing of KGAL ESPF 4, which totaled to €127 million ($147 million). Around three-quarters of the equity has been committed.
In addition to the London Borough of Newham Pension Fund, two insurers, one asset manager and another pension fund have participated in the second closing.
KGAL ESPF 4 aims for equity capital of at least €500 million ($579 million) and a maximum of €600 million ($695 million). The final closing of KGAL ESPF 4 is scheduled for the end of 2018.
