Brunel Pension Partnership, Bristol, England, made a $60 million commitment to the Neuberger Berman Private Equity Impact Fund on behalf of four local authority pension plans, said a news release on the £30 billion ($38 billion) partnership's website.
The £30 billion partnership did not issue a specific mandate. The impact fund is targeting a high proportion of direct co-investments in underlying companies, complemented by select investments in specialist impact primary funds that Brunel would be unlikely to access alone, the release said.
"The fund is ground-breaking in seeking attractive financial returns in lockstep with positive social and environmental impact, having identified investible themes that can map to 15 of the 17 United Nation's Sustainable Development Goals," Richard Fanshawe, head of private markets at Brunel, said in a news release.
