LifeSight, WTW’s £24bn defined contribution (DC) master trust, has revealed details of a significant new commitment to Schroders Greencoat’s Long-Term Asset Fund, an investment structure designed to give pension schemes access to private market assets, reflecting growing investor appetite in this area.
One of the UK’s largest DC master trusts, LifeSight invests on behalf of 430,000 members. It has now committed £450m to the Schroders Greencoat Global Renewables+ LTAF – a major clean energy investment.
The fund focuses on renewable energy projects such as wind and solar, as well as wider energy transition infrastructure assets including large-scale batteries, energy-efficient heat networks, and green hydrogen projects.
LTAFs were introduced by the UK’s Financial Conduct Authority in 2021 to enable DC investors and certain retail clients to access private market assets, amid growing government pressure to encourage pension fund investment in UK infrastructure.
LifeSight signed the UK Government’s updated Mansion House Pledge in May 2024 and had already launched a dedicated private equity LTAF.
The Schroders Greencoat LTAF will be included in LifeSight’s default funds. It targets returns slightly above traditional listed equities, providing members with exposure to energy transition investments across the UK, Europe, the US, and other OECD countries.
Andrew Doyle, lead investment adviser for LifeSight, said: "We are delighted to make this investment on behalf of our members. Our scale as one of the largest master trusts in the UK means we are able to access specialist managers and innovative investments that enhance the portfolios of our members in our core defaults."
Schroders Greencoat LLP, the specialist energy transition infrastructure manager within Schroders Capital, has to date deployed more than $19bn into wind, solar, bioenergy, and other energy transition assets in the UK, Europe, and the United States.
