U.K.'s National Association of Pension Funds (NAPF) and the £6 billion Pension Protection Fund (PPF) are supporting a government proposal to pull in £20 billion of pension funds into infrastructure projects, IPE reports. NAPF and PPF have inked a memorandum of understanding with the government for the setting up of an infrastructure platform to facilitate investments by British pension schemes in the asset category.
Increased inflow of pension funds into the infrastructure sector would help meet a finance shortfall for approximately 500 projects planned in the coming 10 years. Members of NAPF operate almost 1200 separate pension schemes and have combined assets of nearly £800 billion.
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