UK pension fund Border to Coast Pensions Partnership has secured £2.7 billion (€3.14 billion) in capital commitments from ten partner funds for its private markets investment programme.
The latest fund raising is a significant increase on previous commitments in the first two tranches and brings the total amount of capital in the programme to £5.7 billion.
The pension fund, which is one of the largest public sector pools in the UK with £55 billion in assets, plans to invest this capital over the next year in private equity, infrastructure and private credit.
“The increase in commitments by our partner funds reflects the importance of private markets to deliver their investment strategies,” said Mark Lyon, head of internal management at Border to Coast.
Last month Border to Coast committed £575 million to six private credit funds and in late in 2020 it announced plans to launch a property portfolio that could be worth as much as £5 billion.
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