| Pension funds in London and Manchester have joined forces for a £500 million ($757 million) infrastructure fund that could expand to rival the multibillion-dollar sovereign-wealth funds that are regular buyers of large U.K. development projects such as railroads and airports.
The joint venture between the London Pensions Fund Authority and the Greater Manchester Pension Fund comes less than two months after the LPFA agreed a separate £10 billion partnership with the Lancashire County Pension Fund in northern England. Both partnerships are “seeds” of ventures that could expand into larger collaborations between U.K. pension funds, according to Kieran Quinn, chairman of the Manchester pension fund...............................................Full Article: Source
|