A few days ago, we at the Greater Manchester Pension Fund (GMPF) and the London Pensions Fund Authority (LPFA) were delighted to announce the second investment from our £500m infrastructure partnership – the acquisition of a stake in one of the UK's largest onshore wind farms. When we originally announced the GMPF & LPFA Infrastructure LLP (GLIL), we hoped it would, first and foremost, give us the opportunity to invest in assets that provide stable, long-term returns that match our liability profiles, at the same time as providing the wider economic and social benefits associated with investing directly in UK infrastructure.

We also wanted it to act as a bellwether for the LGPS at large – showcasing how it is possible for funds to come together to pool assets and expertise in order to access alternative investments, with the end goal of improving performance and eliminating deficits.