Border to Coast secures £1.4bn infrastructure investment
Border to Coast Pensions Partnership (“Border to Coast”), which gathers 11 local UK government pension schemes with assets of £46bn (€51bn), has boarded £1.4bn (€1.5bn) of commitments to infrastructure investment. The British pension scheme pool said that £675m (€746m) were deployed in a first Series 1A offering. The portfolio invested in eight funds providing exposure to infrastructure sub-themes including energy transition, digital revolution, operational value add, greenfield and emerging markets.
The selected funds are: Brookfield Infrastructure Fund IV ($125m investment), Global Infrastructure Partners Fund IV ($60m), AMP Global Infrastructure Fund II ($100m), Infracapital Greenfield Partners Fund II (£100m), Arcus European Infrastructure Fund II (€90m), iCON Infrastructure Partners V ($100m), Macquarie GIG Renewable Fund II (€101m) and Stonepeak Global Renewables Fun ($100m).
Furthermore, Border to Coast has secured £760m (€840m) of commitments to its second infrastructure offering (Series 1B) which will be invested in the period to 31 March 2021. These will be part of a programme aimed at building a diversified global infrastructure portfolio over the long term across Core, Core+ and Value Add/Opportunistic strategies.