LAPF’s pledge further £550m to GLIL Infrastructure

Written by Jack Gray
09/10/2018

The local authority pension fund (LAPF) partners of GLIL Infrastructure LLP (GLIL) have committed a further £550m to the fund.

This brings the total investment to date to more than £1.8bn.

GLIL is run by Northern Pool pension funds: Greater Manchester, Merseyside and West Yorkshire, and the Local Pensions Partnership, which manages the assets of Berkshire, Lancashire and London Pensions Fund Authority.

Local Pensions Partnership chair, Michael O’Higgins commented: “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.”

In Northern Pool, the contribution from Greater Manchester pension fund will increase by £150m to £650m, West Yorkshire’s commitment will rise by £125m to £375m and the Merseyside pension fund’s contribution will double to £250m.

The increase commitments mean GLIL will now account for around 3 per cent of Northern Pool’s £46bn under management.

Northern Pool chair, Ian Greenwood added: “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.”

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