London CIV hired Macquarie Asset Management as subadviser to manage a $150 million allocation to renewable infrastructure, said a news release Thursday.
The latest energy transition investment by the pool of London local authority pension funds focuses on companies providing energy storage, hydrogen and renewable fuels, clean transportation and carbon capture utilization and storage.
London CIV managed about £12.6 billion ($15.2 billion) in public markets assets and about £2.3 billion in private markets assets for 32 London pension funds as of Dec. 31. The assets committed to renewable infrastructure stood at £854 million as of Dec. 31 and were jointly managed by BlackRock, Quinbrook Infrastructure Partners, Stonepeak Infrastructure Partners and Foresight Group, according to London CIV's website.
"As I come to the end of my first full quarter at London CIV, I have repeatedly said that we are here to listen to what our client funds are asking us for and one of the key things they want is for us to appoint outstanding asset managers to manage our growing list of funds," Dean Bowden, CEO of London CIV, said in the news release.
Further details could not be immediately learned.