NEST approves £250m commitment

The UK pension fund has confirmed an initial £250m debut infrastructure mandate with Octopus Renewables.

Institution: NEST Pensions
Headquarters: London, UK
AUM: £15.5 billion
Allocation to alternatives: 11.4%

National Employment Savings Trust Pensions has partnered with Octopus Renewables to manage an initial £250 million ($347 million; €291 million) investment in renewable infrastructure projects in the UK and Europe this year, according to a press release on the manager’s website.

The £15.5 billion UK pension fund is seeking to ramp up investment in renewable energy infrastructure and transition towards becoming a net zero carbon investor.

NEST sees its partnership with Octopus Renewables as being a “significant milestone” in shifting institutional attitudes towards investment in renewables, combating climate change and generating long-term stable returns.

The mandate in question marks the successful culmination of NEST’s unlisted infrastructure equity manager RFP which was originally issued in January 2020.

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