The EUR 57 billion pension scheme plans to invest up to EUR 1 billion over the coming years in climate-relevant investments, including infrastructure and clean technology. The pension fund will make the investments through the Institutional Investor Climate Change Action Fund for Emerging Economies, which will seek unlisted climate-friendly, ready-to-implement infrastructure projects in BRIC and North America. ATP is looking for private infrastructure investment opportunities, but the projects must also be endorsed in some way by government. ATP plans to cooperate with international organisations and financial institutions that have similar schemes in place to mitigate some of the investment risk. The fund will acquire a maximum 33% stake in projects and use up to 50% leverage.
ATP Pension Infrastructure has been actively investing in the infrastructure asset class since 2005. The pension fund currently has a separate 5% allocation to infrastructure that targets a 50/50 split between unlisted funds and direct investments. Fund managers ATP has invested with include GS Infrastructure Investment Group, CP2, RREEF Infrastructure and LS Power Group. It has exposure to transport, energy, utilities and clean technology assets in OECD and BRIC member countries.
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