Border to Coast Pensions has launched its second private markets programme, which has received £4bn in pledges from its partner funds, increasing the total commitments to £10bn.
Over the next year, £1.03bn of the first tranche of Series 2 commitments will be invested in infrastructure, £705m in private equity and £985m in private credit.
There’s also a £1.35bn Climate Opportunities offering. This money will be put into investments that will have a significant beneficial impact on climate change and support long-term net-zero carbon emission objectives during a three-year period. It will focus on the following sectors: clean energy, technology, transportation, industry, agriculture, and carbon sequestration, and will involve investments in private equity, infrastructure, and private credit.
Border to Coast announced in September 2021 that it intends to achieve net-zero greenhouse gas emissions throughout its investment portfolios by 2050 or sooner. Creating and expanding investment propositions linked with net zero emissions by 2050, as well as facilitating increasing investment in climate transition solutions, were all part of this promise. Climate Opportunities is an element of our long-term strategy for achieving this aim.
Border to Coast head of internal management Mark Lyonat says: “We have worked closely with our Partner Funds to design and launch innovative investments that enable them to deliver their long-term investment strategies. Our private markets programme is highly valued by our Partner Funds and is a key part of our offering.
“The addition of a Climate Opportunities offering continues to meet the need for enhanced long-term returns while helping drive the essential transition to a low-carbon economy and supporting efforts to combat climate change.”