Three more LGPS funds join GLIL Infrastructure JV

West Yorkshire Pension Fund, Merseyside Pension Fund and Lancashire County Pension Fund have joined GLIL Infrastructure, increasing its assets under management from £500 million to £1.275 billion.

GLIL Infrastructure (Greater Manchester and London Infrastructure Limited) was launched in April 2015 as a joint venture between Greater Manchester Pension Fund and the London Pensions Fund Authority (LPFA), as it was then known. The LPFA has now formed the Local Pensions Partnership (LPP) with Lancashire County Pension Fund, as part of the local government pension scheme (LGPS) pooling arrangements. In a statement on the latest development, GLIL Infrastructure commented: “The expansion allows GLIL Infrastructure access to a greater pool of financial commitments and investment expertise from its five contributing funds, cementing it as a significant and serious investor in the UK infrastructure market.”

GLIL Infrastructure aims to deliver long-term returns to match pension fund liabilities and to support major UK infrastructure projects. It aims to leverage the resources of its contributing funds across people, capital and expertise, and claims a very low cost base and a flexible investment approach.