The pension pool, which also has a £2.6bn climate solutions bucket, has committed to Capital Dynamics’ Clean Energy UK Fund.
TPG has secured three anchor investors for its nascent climate infrastructure fund, while Brookfield is confident it will hit the target for its second transition mega-fund.
Head of private equity growth Pedro Faria says the firm is trying to find its feet in a nascent market that could attract as much as $40bn within 15 years.
The firm has registered Impact Lending Fund I, a regulatory filing shows.
The fund will invest in afforestation projects, nature-related tech and commercial forestry.
The decision to focus solely on decarbonisation was 'well received by investors', according to partner Frida Einarson.
The fund's predecessor closed on $7.3bn in 2022.
The market forces that have propelled climate funds to the top of LP wish lists look set to continue.
Dutch private equity firm has linked 33% of its carried interest allocation to the achievement of impact goals.
Activate Capital is seeking its third fund, while 27 other VC climate funds have already closed on a combined $7.1bn this year.