Brunel Pensions Partnership and the Superannuation Arrangements of the University of London (SAUL) have committed £277 million to Greencoat Capital’s new closed-end private markets fund.
Greencoat Renewable Income is expected to focus on solar, wind and bioenergy, with selected other green infrastructure opportunities such as renewable heat, designed to deliver predictable sterling cashflows with inflation protection.
The fund has allocated around £130 million of capital to three investments so far – a share of Templeborough Biomass Power Plant in Rotherham, a share of two of the largest low carbon greenhouses in the UK and a commitment to Greencoat Solar II, the UK’s largest private markets solar fund.
Greencoat Capital has £5 billion in assets under management across a range of private and publicly listed funds and a track-record of strategies in wind, solar, and bioenergy.
Gillian de Candole, investment principal at Brunel Pension Partnership, said: “Greencoat has a strong reputation for investing in and managing renewable energy assets.”
“This fund is a good fit both with our clients’ return expectations from secured income investments and Brunel’s partnership-wide commitment to act on climate change including extending the range and quality of climate-aware products available to our clients,” she added.