London Pensions Fund Authority committed a further £50 million ($69 million) to real estate strategy The London Fund, a spokeswoman confirmed.
The London Fund was created by local authority pensions pool London CIV and Local Pensions Partnership, London, an asset and liability management pensions pool. The two entities also manage the fund, which focuses on residential real estate, affordable housing, community regeneration, digital infrastructure and clean energy in London.
In December, the LPFA committed £100 million to the fund.
"We firmly believe that The London Fund provides a great way for us to deliver for our fund members and provide a direct benefit to communities in London," said Robert Branagh, CEO of LPFA, in a news release Tuesday.
LPFA had £6.7 billion in assets as of Dec. 31.
The fund's target value is £300 million. London CIV ran £10.7 billion in assets under management on behalf of London local authority pension funds as of Dec. 31.
Local Pensions Partnership had £19.8 billion in assets under management as of Dec. 31.
