NEST commits £200m to IFM to scale climate solutions
Defined contribution pension fund Nest has committed £200m to infrastructure investment firm IFM Investors to help scale climate solutions.
The funding will be deployed through an existing mandate with IFM and will back businesses, technologies, and infrastructure projects that will benefit from a lower carbon economy and that directly contribute to climate impact.
It aims to support early growth stage industrial and infrastructure-oriented businesses that require scale-up capital, including venture-backed companies.
The investment is Nest’s latest involvement since it became the first international owner of IFM last year, when it acquired a 10% stake. It plans to invest £5bn through IFM by 2030.
Rachel Farrell, director of public and private markets at Nest Invest, said: “The globally-focussed strategy aims to back companies, asset-backed debt, across power and energy, sustainable transportation, digital circular economy and industrial innovation sectors, backing innovators that deliver measurable, low-carbon outcomes across the real economy.”
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