The UK’s National Association of Pension Funds has launched its first infrastructure fund, part of its £2 billion investment initiative and the first time UK pension funds have banded together to buy real-world assets on their own behalf.
The first fund has raised £260 million so far, from five of the initiative’s founding investors, to put money into UK public-private partnership projects. It has a cap of £500 million and is in the process of raising the rest of the money.