Ealing Pension Fund to invest £36m in JP Morgan infra fund

The London-based pension fund is performing due diligence on its first infrastructure investment.

Ealing Pension Fund plans to invest three percent of its £1.2 million total assets, or £36 million ($47.3 million; €40.5 million) in JP Morgan’s Infrastructure Investments Fund (IIF), marking Ealing’s first ever investment in infrastructure. The London-based pension fund is currently carrying out due diligence on the investment.

Ealing is the fourth pension fund that backs IIF, following Strathclyde Pension Fund and Suffolk Pension Fund, which committed £500 million and £35 million respectively. Lewisham Pension Fund previously agreed to commit £80 million in IIF starting in October.

With a total asset value of $20 million, IIF has invested $10 million of equity in 17 portfolio companies. It has over 250 LPs, most of which come from North America.

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