Schroders Greencoat, the renewables and energy transition infrastructure manager of Schroders Capital, has received a £170 million commitment from the Environment Agency Pension Fund (EAPF) into its UK flagship private markets fund Greencoat Renewable Income LP (GRI).

Schroders Greencoat, which claims to be the largest secure income fund of its kind, invests only in UK renewable infrastructure assets and has a diverse portfolio of wind, solar and bioenergy assets.

To date, GRI has deployed over £1 billion, gaining exposure to over 165 assets across the UK.

Recent investments include stakes in the largest operational solar portfolio to ever be traded in the UK, the largest district heating platform in the UK, and the largest portfolio of hydrogen infrastructure in development supported by the UK Government.

With the commitment from the EAPF, GRI currently has £1.35 billion in assets under management.

The fund will be open to investors until the end of the year.

The EAPF is one of the founding members of the Brunel Pension Partnership, which is a client of Schroders Greencoat and a significant investor in GRI and other Schroders Greencoat funds.

Schroders Greencoat said the investment is an example of Local Government Pension Schemes (LGPS) and, in particular the EAPF and other like-minded funds in the Brunel Pension Partnership, taking steps to deliver impact-focused investments targeted at UK renewable infrastructure.

“Renewable infrastructure assets are the backbone of the energy transition and, as the largest asset manager of operational wind and solar assets in the UK, Schroders Greencoat is able to offer its clients direct access to these opportunities with long-term reliable, inflation-linked cashflows via a diversified strategy,” said Tatiana Zervos, portfolio manager at Schroders Greencoat. “Our track record means we are a trusted partner for influential investors such as the EAPF and we’re delighted to build on our relationship with Brunel which dates back to the fund’s inception in 2019.”

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