Four LGPS members have expanded their commitments to the infrastructure platform GLIL indicating growing investor appetite for the asset class.
The LPPI Pool, West Yorkshire, Merseyside and Greater Manchester Pension Fund have jointly committed an additional £400m in new capital, bringing the platform's total aum to £4.5bn. The new commitments will fund investments in UK infrastructure such as renewable energy, utilities, ports, logistics trains, digital infrastructure, hospitals and schools. About a third of GLIL's portfolio is invested in clean energy infrastructure, including investments solar, onshore and offshore wind.
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The latest LGPS commitments come as GLIL announced the acquisition of Yondr at the end of July , giving it a stake in a hyperscale data centre campus in South East England.
Jonathan Ord, head of Direct Infrastructure at GLIL, highlighted that the platform’s distinguishing feature was the ability to collaborate.
“Our pipeline will remain broad, but with a particular focus on the energy transition and digitalisation – areas where the UK needs significant investment – and we’ll be exploring ways we can start to take on additional construction risk, applying the operational experience we’ve built within our team” he said.
Having been launched by two LGPS funds and £500m initial capital more than a decade ago, GLIL is now actively exploring taking on new pension fund members.
