Border to Coast Pensions Partnership’s partner funds have committed £2.3bn to the next stage of its private markets programme, which will seek investments in the energy transition and software.
The new commitments are the second phase of a three-year ‘Series 2’ programme, which launched in April last year.
Over the next year, partner fund commitments will now be invested in infrastructure (c.£860m), private equity (c.£600m) and private credit (c.£850m).
The programme will seek investments in software and healthcare, the energy transition, and the digital and data revolution.
Ian Sandiford, Border to Coast’s head of alternatives, said: “Due to our collective scale and dedicated investment team, we have been able to expand our partner funds’ long-term access to private market investing, secure access to quality managers and investment strategies, drive value for money and fee reductions, increasing the potential for enhanced long-term returns.”
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According to the Local Government Pension Scheme pool, the latest commitments take the total size of the private markets programme to £12bn, with over £9bn of previous commitments having now been deployed.
Joe McDonnell, Border to Coast’s chief investment officer, said: “Private markets is a key area for our partner funds. Having deployed £9bn in just four years, this new commitment highlights their confidence in our in-house team to find appropriate investment opportunities in this specialist asset class.”
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