William Eichler 09 October 2018

Local authority pension partners commits further £550m to infrastructure fund

Local authority pension partners commits further £550m to infrastructure fund image

The local authority pension partners of GLIL Infrastructure LLP have doubled their pledge to the infrastructure fund, bringing the total they have invested to more than £1.8bn.

GLIL is run by the pension funds of Greater Manchester, Merseyside, West Yorkshire - collectively known as the Northern Pool - and Local Pensions Partnership (LPP), which manages the assets of Berkshire, Lancashire and London Pensions Fund Authority.

The fund targets core infrastructure projects, mainly in the UK, and has allocated nearly £900m to key investments covering greenfield sites, regulated utilities and transport upgrades.

It is structured as an Alternative Investment Fund, with the key decisions being made by its Investment Committee, comprising representatives of it’s largest investors, currently Northern Pool and LPP.

Ian Greenwood, chair of the Northern Pool, said GLIL ‘already leads the way’ in meeting Government ambitions for local authority pension funds investing in infrastructure projects.

‘Now, by increasing our scale in this way, we not only are better able to work alongside some of the most sophisticated infrastructure investors in the world, we also have greater access to the widest pool of available investments at the best possible price,’ said Mr Greenwood.

Michael O’Higgins, chair of Local Pensions Partnership, said the LPP was ‘delighted’ to increase its commitment to GLIL.

‘These increased partner pledges will help us to build on GLIL’s successful track record of collaborative partnership between like-minded institutions in the local government pensions sector who share a common interest in increasing exposure to UK infrastructure and delivering long-term liability matching returns,’ he said.

GLIL recently announced it would offer the benefits of its collaborative approach to a wider range of investment partners, including other local government pension scheme pools and funds.

Fair funding delay image

Fair funding delay

The delay to the fair funding review can only add to anxiety over the future of local government, says Mark Whitehead
Highways jobs

Senior Traffic Engineer

East Riding of Yorkshire Council
£32,029 - £34,788 per annum
Currently seeking an enthusiastic and experienced individual to manage our Traffic Team. East Riding of Yorkshire
Recuriter: East Riding of Yorkshire Council

Youth and Community Based Commissioner- Colchester and Tendring

Essex County Council
£18117 - £19106.0 per month
Annual Salary JNC SCP 3 - Unqualified £18,117JNC SCP 6 - Qualified £19,106 We are currently seeking a Youth and Community Based Commissioner to suppo England, Essex, Colchester
Recuriter: Essex County Council

Networks Technician

Essex County Council
£24001.0 - £28280 per annum
Technology Services is focused on ensuring current and future investment in technology to maximise the opportunities to support ECC from a technology England, Essex, Basildon
Recuriter: Essex County Council

Youth Worker x7

Sandwell Metropolitan Borough Council
£18,795 - £19,945 per annum
Looking for a Youth Worker who can meet the needs and aspirations of young people and deliver high quality Youth Work. Sandwell, West Midlands
Recuriter: Sandwell Metropolitan Borough Council

Customer Specialist

Essex County Council
£20001.0 - £22220.0 per annum
Essex County Council (ECC) are currently recruiting for a Customer specialist within the Technical Processing and Optimisation Team. The Team is respo England, Essex, Chelmsford
Recuriter: Essex County Council

Local Government News

Latest issue - Local Goverrnemnt News

This issue of Local Government News explores how councils can tackle modern slavery and trafficking in their supply chains, finds out more about Cambridge's first cohousing scheme and the launch of a new project to build a shared service pattern library for local government.

This issue also contains a special focus on children's services and how councils are protecting children following local safeguarding children boards being abolished.

Register for your free magazine