LCIV completes double fund closure

LCIV has announced the closure of two funds in as many months over the summer.

The London Fund, designed to provide investment in the capital’s housing and infrastructure, successfully completed a second close, securing an additional £45 million investment from the London Borough of Haringey Pension Fund.

The latest investment takes the total committed assets for The London Fund to £195 million, following £150 million seed investment from the London Pensions Fund Authority.

The London Fund was launched in 2020 and is a partnership between London CIV and Local Pensions Partnership Investments, two LGPS investment pools.

It focuses on investments in the City of London, the 31 London boroughs, and their immediate surrounding areas. The fund encompases residential property – specifically build-to-rent – and affordable housing, community regeneration projects, and infrastructure including digital infrastructure and clean energy.

The other fund that received a second close was the LCIV Renewable Infrastructure Fund with additional investments of £247.5 million from five client funds, taking the total assets committed to the fund to £682.5 million.

This fund focuses on renewable energy infrastructure assets and invests in green and brownfield assets. This includes generation, transmission, distribution and enabling assets.

Seeded in March 2021 with £435 million of investment from an initial five client funds, London CIV has made investment in four funds managed by BlackRock Investment Management, Foresight Group and Quinbrook Infrastructure Partners.