The London Fund adds GBP45 million investment from Haringey pension fund in second close
London pension groups behind The London Fund, a new Fund designed to provide investment in the Capital’s housing and infrastructure, have held a second close, securing an additional GBP45 million investment from the London Borough of Haringey Pension Fund (Haringey).
The latest investment takes the total committed assets for The London Fund to GBP195 million, following GBP150 million seed investment from the London Pensions Fund Authority.
Launched in 2020, The London Fund is a partnership between London CIV and Local Pensions Partnership Investments, two LGPS investment pools.
The Fund focuses on investments in the City of London, the 31 London Boroughs and their immediate surrounds, in assets such as residential property – specifically build-to-rent – and affordable housing, community regeneration projects, and infrastructure including digital infrastructure and clean energy. The Fund aims to create a double bottom line by providing investors with sustainable long-term risk-adjusted returns and generating positive social and environmental outcomes for Londoners.
Cllr Yvonne Say, Chair of Haringey combined Pensions Committee and Board says: “I am happy that through this investment in The London Fund, we have shown that Haringey Pension Fund is committed to investing responsibly. This investment will improve our ability to pay our members pensions by providing stable long-term cashflows whilst having a positive impact on the lives of Londoners. We look forward to working closely with the London CIV and the Local Pensions Partnership Investments to ensure that this investment is a success for all stakeholders.”
Mike O’Donnell, CEO of London CIV, and Chris Rule, CEO, Local Pensions Partnership Investments, say: “The London Fund is a unique opportunity to generate risk- adjusted returns for Client Funds like Haringey, while simultaneously delivering positive ESG outcomes to London communities. Securing an investment from Haringey Pension Fund, which is a Client Fund of London CIV, is a really positive moment and we are cognisant that other London CIV Client Funds are in discussions in relation to allocating assets to The London Fund. We continue in our objectives to deliver sustainable outcomes through our investment opportunities.”
London CIV is the Alternative Investment Fund Manager and Local Pensions Partnership Investments is the investment manager. By pooling their resources and networks, London CIV and Local Pensions Partnership Investments expect to have access to a greater range of investment opportunities for The London Fund than would be available to either entity acting alone.