Institution: Strathclyde Pension Fund
Headquarters: Glasgow, UK
AUM: £27.9 billion
Strathclyde Pension Fund has confirmed a £50 million ($66 million; €59 million) commitment to Temporis Impact Strategy Fund V according to the pension’s November investment committee meeting minutes. Temporis Capital‘s fifth fund has a target size of £350 million and a hard-cap of £500 million. The vehicle will invest renewable energy projects in Western Europe, primarily in the UK.
The Glasgow-based pension also announced that it will largely keep its investment strategy the same, though will raise its investment ticket size parameters. Previously, the pension’s commitment sizes were between £20 million to £100 million, with a £10 million minimum and a maximum of £200 million. Moving forward, the pension will invest between £30 million–£100 million with a minimum investment of £30 million. The pension raised its maximum commitment size also to £250 million or 1 percent of a vehicle’s overall size.
As illustrated below, Strathclyde Pension Fund typically invests into infrastructure unlisted equity vehicles focused on Western Europe.