London CIV selected StepStone Group to support £399 million ($511.6 million) in infrastructure assets, according to the website for the pool of 32 London local authority pension funds.
The £8.7 billion London CIV's fund initial commitment will be to renewable energy investments, such as onshore and offshore wind and solar power in Europe.
StepStone will provide investment selection, portfolio construction and reporting services.
"We hope to provide a diversified infrastructure offering, which seeks to incorporate deep research and a keen focus on environmental, social and governance issues to ensure it delivers for all investors," Larissa Benbow, head of fixed income at LCIV, said Monday in a news release.