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Greater Manchester Pension Fund invests £100m in plan which has created hundreds of jobs

By Nagasunder in UK Business News, posted January 26, 2023

The Greater Manchester Pension Fund (GMPF) has invested an additional £100 million in a strategy that has already resulted in the creation of hundreds of jobs.

The largest fund in the Local Government Pension Scheme has backed the Gresham House's Sustainable Infrastructure (BSIF) strategy to help 'accelerate the deployment of profitable, new solutions to address key environmental and societal challenges in the North West, and support levelling up throughout the UK'.

In the North West and beyond, GMPF hopes to benefit from investment in vertical farming, biodiversity net gain (BNG) credits, and low-carbon biofuel production.

Gresham House and GMPF's original North West Fund co-investment has already been committed after working together since 2019.

This has also contributed to the creation of over 215 new high-skilled jobs in the region, as well as the support of over 1,650 new jobs across the UK.

CMPF chairman Cllr Ged Cooney said: "We are committed to creating a positive social and environmental impact for communities in the North West.

"Building on our previous successful investments with the Gresham House team, this £100m commitment will give us greater access to attractive and meaningful, local investment opportunities, from connecting thousands of homes to full-fiber broadband to producing low-carbon biofuels from used cooking oil.

"The scale of infrastructure investment required presents compelling opportunities to help develop the critical assets that will improve lives and deliver lasting local economic and environmental benefits."

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Peter Bachmann, managing director of sustainable infrastructure at Gresham House said: "The LGPS sector has a proud history of seeking out investment opportunities that deliver positive environmental and social impact without sacrificing the potential for attractive risk-adjusted returns.

"We’re very grateful to GMPF and our other LPs whose backing enables us to direct capital into the areas where real asset-based solutions can have the biggest impact.

Source: Business Live

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