pension funds

The fund will target renewable assets in both Europe and North America and is open to further commitments from additional investors.

The largest investors have committed almost $400bn to the asset class.

The move comes eight years after the Pensions Infrastructure Platform was founded with support from the UK government.

The move will enable roughly 85,000 DC members, representing around £1bn of funds, to select a private markets allocation within their investment programme.

Almost half of LPs are undecided on whether to increase their exposure to the asset class, a new survey reveals.

But CIO Angela Miller-May stressed it wasn’t the clincher in its recent decision to allocate $50m with IFM Investors and Ullico Investment Advisors.