The Border to Coast Pensions Partnership has launched a second private markets programme with £4bn of commitments from its 11 local authority partner funds.
“Series Two” commitments will be invested over the next year in infrastructure (£1.03bn), private equity (£705m) and private credit (£985m). There is also a dedicated £1.35bn Climate Opportunities offering.
The Climate Opportunities offering will focus on clean energy, technology, transport, industry, agriculture and carbon sequestration. It is part of Border to Coast’s commitment to achieving net-zero greenhouse gas emissions across its investment portfolio by 2050.
Series Two brings Border to Coast’s total commitments in its private markets programme to £9.7bn. Series One was launched in May 2019 and comprised three tranches totalling £5.7bn.
Mark Lyon, head of internal management at Border to Coast, said: “Our private markets programme is highly valued by our partner funds and is a key part of our offering. The addition of a Climate Opportunities offering continues to meet the need for enhanced long-term returns while helping drive the essential transition to a low-carbon economy and supporting efforts to combat climate change.”
Separately, the Wales Pensions Partnership (WPP) has announced developments with regard to its private markets’ investment contracts. Russell Investments will develop the WPP pooled private debt investment programme, while GCM Grosvenor will implement closed-ended infrastructure investments. Open-ended infrastructure will be invested through the CBRE Global Infrastructure Fund, IFM Global Infrastructure Fund and Octopus Renewables Infrastructure SCSp.
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