GLIL raises further £1.2bn for UK infrastructure investment
0GLIL Infrastructure has raised a further £1.2bn from its Local Government Pension Scheme (LGPS) fund members and from workplace pension provider Nest.
GLIL, which invests predominantly in the UK, has now increased its total committed capital to £3.625bn. Of this, £2.1bn has already been deployed into an infrastructure portfolio that includes renewable energy production, energy transition infrastructure, schools, hospitals, trains, water and ports.
The latest fundraising is the biggest since GLIL was launched in 2015 as a vehicle for long-term investors such as pension funds.
“Pension funds are playing an increasingly important part in UK infrastructure, and their capital is critical to driving further investment in the sector,” said Ted Frith, COO at GLIL Infrastructure.
“Infrastructure provides and attractive risk and return profile for pension funds and connects their pensioners and investors with real value creation and some of the nation’s most exciting projects, from renewable energy to trains and ports to schools and hospitals.”
GLIL members include: the Greater Manchester, Merseyside and West Yorkshire pension funds (through the Northern LGPS pool); the Lancashire County Pension Fund, Royal County of Berkshire Pension Fund and the London Pensions Fund Authority (through the Local Pensions Partnership pool); and Nest.
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