Environment Agency Pension Fund, Bristol, England, hired Ownership Capital to run £85 million ($138 million) in an active sustainable global equity strategy, said Dawn Turner, head of pension fund management, in an e-mail.
The £2.4 billion pension fund hired the manager for its global equity allocation; within that allocation, the fund has a 25% target to sustainable investments.
The Ownership Capital strategy takes active ownership stakes with a 10-year time horizon in companies with strong corporate governance and long-term sustainability.
Funding comes from “rebalancing of allocations within our global equity investments,” Ms. Turner said. No managers were terminated.