London CIV announce second close of LCIV Renewable Infrastructure Fund

LCIV Renewable Infrastructure Fund completes second close.

London LGPS CIV Limited (London CIV) today announced the second close of the LCIV Renewable Infrastructure Fund (‘the Fund’). The additional investment, which was committed on 2 July 2021, comprised £247.5m, from five Client Funds, taking the total assets committed to the Fund to £682.5m. The Fund was seeded in March 2021 with £435m of investment from an initial five Client Funds.

The Fund focuses on renewable energy infrastructure assets, investing in greenfield and brownfield assets. This includes generation, transmission, distribution and enabling assets. To date London CIV have made investment in four funds managed by BlackRock Investment Management, Foresight Group, Quinbrook Infrastructure Partners.

Mike O’Donnell, London CIV CEO, said: “I am pleased to welcome an additional five Client Funds into this Fund. It is a product that supports our ongoing commitment to ESG integration and managing climate risks, so it is great to see so many of our Client Funds investing in sustainable opportunities. It is one of our most successful London CIV fund launches to date, and I look forward to continuing to work in collaboration with our Client Funds to deliver the right solutions for our investors”.

At the end of May 2021, London CIV assets under management including commitments were  £13bn. London CIV will continue to develop and launch products, in partnership with its 32 Client Funds augment its the current fund offering . As part of their ongoing Responsible Investment strategy, the London CIV have recently published their first Stewardship Policy and Stewardship Outcomes Report, which can be found on the London CIV website.