Legal & General’s asset management division has selected IFM Investors as an infrastructure manager for its defined contribution focused private markets access fund (PMAF).

The partnership with IFM Investors, a global infrastructure investment manager owned by Australian pension funds, is aiming to unlock private markets opportunities for the benefit of L&G’s 5.3 million members.

Focal points of the partnership’s PMAF strategy include the energy transition, decarbonisation and the enabling of new renewable energy sources.

The partnership will also help identify opportunities for driving significant investment in the UK, with each partner committed to increasing investment in local assets.

Head of client solutions EMEA at IFM Investors, Armit Bhambra, said: “We believe this partnership will open the door to new opportunities for IFM Investors and L&G in areas such as the energy transition and infrastructure in the UK, with a focus on creating long-term value for our clients, and most importantly the DC members that invest with L&G.”

Head of DC investments at L&G, Jesal Mistry, added: “Our ambition with the L&G Private Markets Access Fund is to give DC savers exposure to a diversified range of exciting private markets opportunities with the potential to boost their long-term retirement outcomes.

“Infrastructure has a critical role to play as part of this asset mix, so we’re delighted to be working with IFM as a partner on the fund.”

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