Border to Coast commits final investments in first £5.7bn private procurement scheme | New
Border to Coast Pension Partnership has secured the final two co-investment deals for its initial three-year private markets initiative, bringing the program value to £5.7bn (€6.7bn).
The first of two new co-investors is investing £60m (€70m) alongside KKR in John Laing, a developer, owner and operator of a globally diverse range of public infrastructure assets that deliver societal benefits, such as hospitals, energy, and transportation projects. With a team specializing in public-private partnerships (PPP), it manages 40 projects on four continents.
Additionally, Vertical Bridge REIT has made a $68 million (€67 million) co-investment alongside DigitalBridge in Vertical Bridge, the largest private owner and operator of mobile communications infrastructure sites in the United States. United, which should benefit from the deployment of 5G technology. Certified CarbonNeutral in 2020 Vertical Bridge became the first tower company in the world to achieve net zero emissions.
Border to Coast has declared a diverse range of investment opportunities for its Local Government Pension Scheme (LGPS) partner funds, while offering a fee reduction of around 24%.
Border to Coast said it had “successfully secured a diverse range of new investment opportunities” for its LGPS partner funds, adding that it had achieved a fee reduction of around 24%.
Mark Lyon, Head of Internal Management at Border to Coast, said: “The success of our private procurement program is a great example of the benefits of pooling tenders. It has provided profitable access to investments that our LGPS partner funds might not otherwise have been able to access, and which offer the potential for attractive long-term risk-adjusted returns.
First launched in 2019, the three-year program focused on infrastructure, private equity and private credit and, leveraging the scale of Border to Coast, aimed to secure cost-effective access to private markets and business potential. improving long-term returns on behalf of its partner funds.
In total, the program invested in 61 funds and made three co-investments.
The final tranche of the program was completed with £1.5bn of new commitments in infrastructure (£307m), private credit (£915m) and private equity funds (232m). million pounds).