Border to Coast Pensions Partnership, a £40bn UK pension pool for local government pension schemes has backed a €300m first close of Foresight's Energy Infrastructure Partners II SCSp (FEIP II) fund as a significant cornerstone investor, the pool confirmed.
The announcement comes just three months after the conclusion of FEIP I's Investment Period, during which over €1bn in capital was deployed into a diversified portfolio of energy infrastructure assets, spanning renewable energy generation, energy storage, and grid infrastructure.
The Leeds-headquartered LGPS Pool has invested some £16bn on behalf of its partner funds in private markets after it attracted an additional £3.6bn in commitments from its partner funds last month. Among others, it has raised an additional £1.2bn for its second Climate Opportunities fund.
Ian Sandiford, head of Private Markets at Border to Coast commented on the transaction: “We are delighted to work with Foresight and support the launch of their second Energy Infrastructure Partners strategy. With a focus on delivering new assets that are necessary to enable the energy transition, the Fund presented a strong fit with our requirements and offers Partner Funds access to a range of strong investment opportunities.
“We are proud of the strength of our relationships with specialist managers such as Foresight. We are able to offer Partner Funds the chance to invest in the significant market opportunity opened up by the need to decarbonise energy systems and put capital to work in supporting net zero goals.”
Dan Wells, partner and fund manager at Foresight Group added: "With the support of our investors, we are well positioned to continue our further fundraising momentum as we look to provide vital investment in the energy transition in Europe and beyond."
The inclusion of Border to Coast Pensions Partnership as a cornerstone investor highlights the fund's robust appeal and strategic importance. FEIP II, classified as an SFDR Article 9 fund, is aligned with the EU Taxonomy and targets long-term value creation through strategic energy investments.
Foresight Group anticipates strong momentum for future fundraising rounds, with ongoing discussions with both existing and new investors. The firm aims to reach its target fundraise of €1.25bn by 2025, representing a nearly 50% increase from the previous vintage.
