Strathclyde Pension Fund's investment committee approved a total £400 million ($532 million) of new commitments to private equity and real estate strategies managed by Partners Group, and a £30 million follow-on investment to a wind fund.
Documents published on the website of the £17.6 billion Glasgow, Scotland-based pension fund said the investment committee had agreed to an initial £85 million commitment to Partners Group Global Relative Value, including approved co-investments, this year. It also approved a further £145 million to the strategy next year.
The pension fund also committed £50 million to Partners Group Direct Private Equity, and a further £120 million to Partners Group Direct Real Estate.
The pension fund's investment committee also approved a new investment within its direct investment portfolio, agreeing to a £30 million follow-on investment in U.K. Green Investment Bank Offshore Wind Fund. A spokesman for the Glasgow City Council confirmed the new commitment increases the pension fund's backing for the fund to a total £80 million. The fund is managed by the Green Investment Bank's wholly-owned subsidiary, U.K. Green Investment Bank Financial Services.