The £5.6bn London Collective Investment Vehicle (LCIV) has launched its first infrastructure fund which was seeded by six of the London Borough Pension Funds.
Initial commitments of £399m have been made to the LCIV Infrastructure Fund which will go into renewable energy.
The initial investment will build the renewable energy fund with investments in renewable technologies including onshore and offshore wind and solar across core geographies, focussed specifically on Europe.
London-based investment consultancy StepStone will partner with London CIV to provide investment selection, portfolio construction, and reporting services.
LCIV investment team member Larissa Benbow said: "We are so excited to be launching this fund with the Local London Authorities and StepStone. We hope to provide a diversified infrastructure offering which seeks to incorporate deep research and a keen focus on environmental, social and governance issues to ensure it delivers for all investors."
The LCIV Infrastructure Fund is the fourteenth fund launched by London CIV.
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