London CIV invests in Macquarie GIG Renewable Energy Fund 2
Investors - JANUARY 10, 2020

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London CIV invests in Macquarie GIG Renewable Energy Fund 2

by Kali Persall

London CIV, a collective investment vehicle for London Local Authorities (LLA) pension funds, has backed Macquarie GIG Renewable Energy Fund 2 (MGREF2), a fund managed by a subsidiary of Macquarie Group.

London CIV invested €75 million ($98 million) in the fund, which will be 100 percent focused on renewable energy, with the majority of investments in wind and solar assets. London CIV expects 50 percent to 75 percent of investments to be in Western Europe, with the remaining investments in other OECD countries.

“MGREF2 targets high quality infrastructure assets, which deliver steady income yields, in a sustainable and responsible approach,” noted Kevin Corrigan, interim CIO at London CIV. “This is a great representation of what London CIV and their Local London Authorities are hoping to achieve in the LCIV Infrastructure Fund.”

The first investment into MGREF2 will be the Gwynt Y Mor Offshore wind fund, a 576-megawatt offshore wind farm in North Wales.

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