Brunel Launches Infrastructure Portfolio with Dedicated Clean Energy Transition Commitments
Brunel, a UK pension fund manager with assets of £30 billion announced the launch of the Cycle 2 Brunel Infrastructure Portfolio, with 50% of the fund’s commitments targeted towards the clean energy transition.
Brunel stated that it is crucial that investment is directed towards sustainable projects globally, to achieve the long-term objectives of clients, support economic growth and work towards achieving the UN Sustainable Development Goals (SDGs). The company is partnering with global private markets investment firm StepStone Infrastructure and Real Assets (SIRA), and has established two SIRA investment vehicles to deploy its Cycle 2 capital, including a £470 million fund focused on renewable energy opportunities and a separate £370 million ‘generalist’ fund to invest into transport, telecoms, heating and power as well as other sustainable infrastructure.
According to Brunel, the Cycle 2 renewables vehicle has already made three primary fund commitments with three leading managers, including Capital Dynamics Clean Energy Infrastructure Fund X, Copenhagen Infrastructure Partners IV, and Brookfield Asset Management IV Renewable Sidecar.
Richard Fanshawe, Head of Private Markets at Brunel, said:
“Our clients asked us to provide them flexibility to invest to meet their individual infrastructure objectives. In partnership with StepStone, we found an innovative way to make that happen whilst delivering the pooling objectives Across Cycles 1 and 2 respectively, 40%-plus and 50% of commitments will go into the clean energy transition.”
David Beamish, Principal, StepStone Infrastructure & Real Assets, said:
“We are delighted to continue our partnership with Brunel and support their Cycle 2 Infrastructure programme. In line with Brunel’s objectives, we will continue to target responsible investing with a clear focus on sustainability and climate change as well as other considerations, especially during the challenges of Covid-19. In line with Cycle 1, we remain focused on working closely with the Brunel team to access the best opportunities and partners in the market to provide long term, sustainable value for Brunel’s clients.”