Brunel Pension Partnership, Bristol, England, committed £840 million ($1.1 billion) to infrastructure funds, increasing its total commitment to the asset class to £1.3 billion, a spokeswoman said Wednesday.
Within its cycle 2 commitments worth £840 million, Brunel, which is the £30 billion U.K. pool of local authority funds, will invest £470 million in renewable energy, while £370 million will be invested in transport, telecommunications, heating and power, as well as sustainable infrastructure.
Commitments to renewable energy funds include:
- Capital Dynamics Clean Energy and Infrastructure Fund X.
- Copenhagen Infrastructure IV, managed by Copenhagen Infrastructure Partners.
- Brookfield Asset Management IV Renewable Sidecar.
The sizes of individual commitments were not disclosed.
"Our clients asked us to provide them flexibility to invest to meet their individual infrastructure objectives" Richard Fanshawe, head of private markets at Brunel said Wednesday in a news release.
"In partnership with StepStone, we found an innovative way to make that happen whilst delivering the pooling objectives across Cycles 1 and 2, respectively, 40%-plus and 50% of commitments will go into the clean energy transition," he said.
Brunel's initial cycle 1 investment in infrastructure was £460 million.