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.