The Pensions Infrastructure Platform (PiP) has launched its PiP Multi-Strategy Infrastructure Fund. With a target size of £1bn, the fund invests directly in UK infrastructure.
Focussing on core infrastructure such as transportation; (renewable) energy; utilities; communications; housing; and social infrastructure, it pursues a long-term buy and hold investment strategy.
It also offers a co-investment programme for larger investors aimed at offering benefits of scale. In order for smaller pension schemes to participate, the fund will have a minimum commitment size that effectively allows schemes of any size to invest and still share the same terms with all other investors.
Mike Weston, chief executive at PiP, comments: “With the support of our founding investors we’ve already mobilised £1bn for investment into UK infrastructure and with this fund we are achieving our key objective of providing pension schemes of all sizes with an efficient route to direct ownership of infrastructure assets.
Bailie Philip Braat, chair, Strathclyde Pension Fund and founding investor, adds: “Infrastructure projects are attractive for Strathclyde as long-term, low-risk investments – and our members are also positive about seeing their savings supporting jobs and communities.