Searches and Hires

Strathclyde Pension Fund slates £160 million for alternatives

Strathclyde Pension Fund, Glasgow, Scotland, committed a total of 160 million ($216 million) to renewables, alternatives and infrastructure projects.

The 20 billion pension fund committed 80 million to Pensions Infrastructure Platform, a multistrategy infrastructure fund that invests in low-risk U.K. operational infrastructure projects.

Additionally, the pension fund committed 30 million to Temporis Renewable Energy Strategy II, managed by Temporis Capital and which invests in onshore operational wind-farm projects in the U.K. and Ireland. Strathclyde previously committed 30 million to Temporis Renewable Energy Strategy I in 2015.

Strathclyde committed 20 million to Resonance British Wind Energy Income II, a fund managed by Resonance Asset Management that focuses on investments in alternative and conventional energy, and water and waste management. In 2015, the pension fund committed 10 million to Resonance British Wind Energy Income I.

The pension fund also made an additional commitment of 30 million to Tosca Debt Capital Fund II, managed by Toscafund Asset Management.

Separately, the investment committee approved a currency hedging strategy for the pension fund's 65% equity allocation. Within that allocation, 80% is in global equities and 20% is in U.K. equities.