The Public School Employees' Retirement Board of Pennsylvania has committed $300m to the Brookfield Global Transition Fund.
The pension has classified the investment as a natural resources fund in its real assets portfolio.
The insurer's first commitment is to the UK government-backed Clean Growth Fund.
'These managers are hungry,' says Katie Moore, head of emerging and diverse investing at Hamilton Lane, which will deploy $300m of MassPRIM's allocation.
Sharing the financial upside with portfolio company employees is an emerging way to bolster private equity's license to operate. Plenty of LPs believe it is a returns driver too.
Universities Superannuation Scheme is the latest in a series of LPs to create separate impact and climate investing allocations across private markets.
ESG is increasingly a deal-breaker for LPs and GPs are responding by stepping up their game.
European investors remain the most interested in sustainable finance across global markets.
The message from Marlene Timberlake D’Adamo, CalPERS’ chief DE&I officer, to managers is: 'We're not going to embarrass you.'
A sector 'on the brink of transition' presents investors with a whole menu of impact possibilities.