Border to Coast Pensions Partnership, Leeds, England, will consider new and existing managers over the next 12 months for the latest phase of its private markets program, a spokesman said.
The pool of local authority pension funds, which have £60 billion ($74.5 billion) in combined assets, will invest about £860 million in infrastructure, £850 million in private credit and £600 million in private equity.
"Due to our collective scale and dedicated investment team, we have been able to expand our partner funds' long-term access to private market investing, secure access to quality managers and investment strategies, drive value for money and fee reductions, increasing the potential for enhanced long-term returns," said Ian Sandiford, head of alternatives at Border to Coast, in a news release.
The new investments will be deployed globally in areas such as software and health care, energy transition, and the digital and data revolution.
The pool is not running an official search and selection procedure. But managers with relevant strategies should submit pitch books to alternatives team for review via email, the spokesman said.
Border to Coast requires managers to incorporate ESG and responsible investment into the investment process.