London CIV (LCIV) has appointed Macquarie Asset Management as the fifth investment manager within its LCIV Renewable Infrastructure Fund (LRIF).
The $150m investment into the fund marks the continuation of an existing relationship between LCIV and Macquarie which began in 2019.
LRIF focuses on renewable energy infrastructure assets by investing in greenfield and brownfield assets including generation, transmission, distribution and enabling assets.
According to LCIV, Macquarie is the largest infrastructure manager in the world and has committed a total of £250m across three of the Local Government Pension Scheme pools’ funds.
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Gillian Evans, Macquarie’s managing director, said: “We are delighted to partner with LCIV for the LRIF.
“This marks the first investment by LRIF into a pure play energy transition strategy, supporting technologies beyond traditional wind and solar generation that will be needed to achieve net-zero targets such as energy storage, hydrogen and renewable fuels, clean transportation, carbon capture utilisation and storage, and the circular economy.”
Dean Bowden, LCIV’s CEO, said: “As I come to the end of my first full quarter at LCIV, I have repeatedly said that we are here to listen to what our client funds are asking us for and one of the key things they want is for us to appoint outstanding asset managers to manage our growing list of funds. Macquarie is one such asset manager so personally I am really pleased to have them on board.”
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