GLIL Infrastructure has been appointed as an infrastructure investment partner for Nest, the Government-established workplace pension provider, and secured an initial capital injection to the fund.
The agreement with Nest takes GLIL’s total capital to around £2.5 billion. It also follows a further £500 million capital commitment from the fund’s existing local government pension fund members.
The procurement is part of Nest’s commitment to deploy £3 billion of investment capital into infrastructure in the UK, and around the world, by the end of the decade.
GLIL Infrastructure was established in 2015 to drive direct investment in core UK infrastructure and support the long-term objectives of pension funds and local authority pooling. Local Pensions Partnership Investments is the investment manager for the fund.
Investments to date include equity stakes in Anglian Water, Clyde Windfarm, Forth Ports, two fleets of trains with Rock Rail, a portfolio of PPP assets, and investments in biomass and anaerobic digestion energy generation. In November 2020, GLIL acquired a 30% equity stake in Agility Trains East (‘ATE’), a rolling stock fleet of 65 new intercity trains on the East Coast Mainline.
For more information read the GLIL article.