Schroders Greencoat secures £170mn from Environment Agency Pension Fund

Schroders Greencoat, a specialist in renewables and energy transition infrastructure management under Schroders Capital, has secured funding worth £170 million from the Environment Agency Pension Fund (EAPF) for its UK flagship private markets fund, Greencoat Renewable Income LP (GRI).

GRI, the UK’s largest secure income fund, continues to welcome investors until year-end. Specialising in renewable infrastructure, it guarantees stable, inflation-protected income streams long-term. Investments cover wind, solar, bioenergy assets, and other energy transition infrastructure such as heat pumps and green hydrogen electrolysis.

The commitment from EAPF boosts GRI’s total to £1.35 billion, with the final close scheduled for December 2024. 

EU ESG Ucits projected to cross €9 trillion by 2027

EAPF, a Brunel Pension Partnership founding member, and a key investor in GRI, exemplifies Local Government Pension Schemes’ dedication to UK renewable infrastructure investments, aligning with EAPF’s climate targets, net-zero strategy, and the UK Government’s levelling up ambitions.

Tatiana Zervos, portfolio manager, Schroders Greencoat, commented: “Renewable infrastructure assets are the backbone of the energy transition and, as the largest asset manager of operational wind and solar assets in the UK, Schroders Greencoat can offer its clients direct access to these opportunities with long-term reliable, inflation-linked cashflows via a diversified strategy.”

Greenhushing impacting private markets’ ESG activity

Craig Martin, chief pensions officer, EAPF, said: “We have a long-standing target of achieving 17% AUM in climate solutions by 2025. This investment will help us achieve this, and support the UK’s levelling up agenda. We look forward to working with the team and our Brunel partner investors to scale UK renewables.”

Richard Fanshawe, head of private markets, Brunel Pension Partnership, added: “This investment achieves multiple Impact, Levelling Up, energy transition, and return ambitions in one fell swoop for the Environment Agency, whose remit is country-wide, not county-specific.”

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