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.

SIGN UP
For your free daily news bulletin
Highways jobs

Social Worker - SGO & Connected Person Assessment Team

Essex County Council
Negotiable
Special Guardianship Order (SGO) & Connected Person Assessment Team The SGO and Connected Person's Assessment Team (North & Mid) first started in Apri England, Essex, Chelmsford
Recuriter: Essex County Council

Economy & Business Service Manager 

Harborough District Council
£49,350 to £52,368
Looking for an experienced manager who understands public sector responsibilities with the proven ability to deliver our ambitions. Market Harborough, Leicestershire
Recuriter: Harborough District Council

Head of Income and Financial Inclusion

The Royal Borough of Kensington & Chelsea Council
£48,800 - £66,000 per annum
You’ll have excellent interpersonal and communication skills, with a substantial track record of successful performance management. Kensington and Chelsea, London (Greater)
Recuriter: The Royal Borough of Kensington & Chelsea Council

Advanced Practitioner

The Royal Borough of Kensington & Chelsea Council
£33.600 - £45,400 per annum
Looking for an Advanced practitioner Social workers to join the Adult social services in the... Kensington and Chelsea, London (Greater)
Recuriter: The Royal Borough of Kensington & Chelsea Council

Adult Principle Social Worker

The Royal Borough of Kensington & Chelsea Council
£36,600 - £49,600 per annum
The successful candidate will be a passionate and skilled communicator with ability to work alongside operational Social Workers and... Kensington and Chelsea, London (Greater)
Recuriter: The Royal Borough of Kensington & Chelsea Council

Public Property

Latest issue - Public Property News

This issue of Public Property examines how public sector organisations can unlock the hidden value in their land, and why a new approach to construction could help boost the outcomes of the Government’s One Public Estate programme.

The December issue also considers why learnings from ancient cities could provide the key to promoting wellbeing in the modern built environment. It also contains a case study on how the London Borough of Westminster has provided high quality care for the elderly alongside a block of luxury apartments.

Register for your free digital issue