GLIL Infrastructure LLP, the £1.3 billion joint venture between five local authority pension funds, and Dalmore Capital, a specialist infrastructure fund manager, are to acquire, on a 50:50 basis, a 15% interest in Anglian Water Group from 3i.
Anglian Water is the largest water and sewerage company in England and Wales by geographic area, covering Eastern England and Hartlepool. It supplies around two million households and 124,000 businesses. Dalmore and GLIL believe Anglian Water is one of the best-managed companies in the water sector and the investment is part of a shared belief on investing in UK infrastructure assets with low volatility, on a long-term basis.
London Pensions Fund Authority (LPFA) chairman, Sir Merrick Cockerell, said: “Pension fund investment is key to UK infrastructure development. This investment in Anglian Water is a perfect example of how GLIL’s collaborative and long-term investment approach can help to ensure stability for pension funds and services provided to the public through our infrastructure.”
In addition to GMPF and LPFA, Merseyside Pension Fund, West Yorkshire Pension Fund and Lancashire County Pension Fund are investors in GLIL.