The Pension Protection Fund (PPF) and Legal & General (L&G) are investing 拢400m (鈧�506.2m) in debt for a UK port.
The PPF and Legal & General Retirement have, respectively, invested 拢150m and 拢250m in senior debt for DP World鈥檚 London Gateway Port project over a 30-year loan term.
LGIM Real Assets is managing the investment.
L&G said two additional investors provided a further 拢180m of debt.
The facility will partly refinance an existing project finance loan and help to finance the port鈥檚 third berth.
The port is the UK鈥檚 first in more than two decades.
Sarah Wall, PPF portfolio manager, said the PPF 鈥渃ontinues to build out its exposure to alternative hedging strategies鈥�.
鈥淭hese,鈥� she added, 鈥減rovide diversification benefits, as well as an attractive risk-adjusted return to benefit our members and levy payers.鈥�
Barry Kenneth, CIO at the PPF, said: 鈥淚nfrastructure investment is a key part of our investment approach.
鈥淲e want to invest in assets that give us long-term, stable cash flows to ensure we are able to meet our long-term obligations to our members.鈥�
Legal & General is aiming to invest 拢15bn in UK infrastructure, direct investments and urban regeneration projects.
