| 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. “If you want a good crop you have to plant a few seeds. You can’t just plant one,”Kieran Quinn, chairman of the Manchester pension fund said. “We are creating something that can come close to or equal a sovereign-wealth fund.”
LPFA Chairman Edmund Truell told The Wall Street Journal in December that he is trying to implement London Mayor Boris Johnson ’s vision of creating a U.K. citizens’ wealth fund to rival the sovereign-wealth funds. The mayor appointed Mr. Truell to oversee the pension fund...............................................Full Article: Source
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