Key Takeaways
- • Nest has committed £200m to a new infrastructure-focused global growth credit strategy managed by IFM Investors, targeting "next-generation climate technologies" (press release dated 2 June 2026).
- • Nest, the £50bn defined contribution master trust, holds a 10% ownership stake in IFM acquired last year, making it the first non-Australian owner of the asset manager.
- • Nest aims to invest around £5bn through IFM by 2030 as part of a plan to lift private markets allocation to 30% of its portfolio from 18%.
- • The mandate targets asset-backed debt across power and energy, sustainable transportation, the "digital circular economy" and industrial innovation, supported by a UK pipeline.
- • Nest has previously invested £450m in a European infrastructure fund launched by IFM and £500m in a global infrastructure fund announced in October.
Summary
UK master trust Nest has committed £200m to an infrastructure-focused global growth credit strategy managed by IFM Investors, with the stated aim of backing "next-generation climate technologies," according to a press release issued on 2 June. The strategy will support "innovative projects and companies that are believed to be well positioned to benefit from the transition to a lower-carbon economy," Nest said.
The commitment builds on Nest's existing relationship with IFM. The £50bn defined contribution fund took a 10% ownership stake in the Australian-owned asset manager last year, becoming its first non-Australian owner. IFM was established and is owned by Australian superannuation funds. The mandate is described by Nest as complemented by a robust UK pipeline.
Rachel Farrell, director of public and private markets at Nest Invest, described the mandate as a "compelling opportunity," adding that the investment puts members' money to work in ways that "move the dial on climate actions" alongside financial returns. Rich Randall, global head of debt investments at IFM Investors, said the mandate extends IFM's global infrastructure debt platform into innovative infrastructure and industrial technologies supporting economic resilience, energy security and supply chain strength.
IFM will invest in asset-backed debt across power and energy, sustainable transportation, the "digital circular economy" and industrial innovation sectors. The commitment forms part of Nest's wider plan to allocate 30% of its portfolio to private markets, up from 18%, with the fund aiming to invest around £5bn through IFM by 2030. Nest has already invested £450m in a European infrastructure fund launched by IFM a year earlier and £500m in a global infrastructure fund announced in October.
The commitment builds on Nest's existing relationship with IFM. The £50bn defined contribution fund took a 10% ownership stake in the Australian-owned asset manager last year, becoming its first non-Australian owner. IFM was established and is owned by Australian superannuation funds. The mandate is described by Nest as complemented by a robust UK pipeline.
Rachel Farrell, director of public and private markets at Nest Invest, described the mandate as a "compelling opportunity," adding that the investment puts members' money to work in ways that "move the dial on climate actions" alongside financial returns. Rich Randall, global head of debt investments at IFM Investors, said the mandate extends IFM's global infrastructure debt platform into innovative infrastructure and industrial technologies supporting economic resilience, energy security and supply chain strength.
IFM will invest in asset-backed debt across power and energy, sustainable transportation, the "digital circular economy" and industrial innovation sectors. The commitment forms part of Nest's wider plan to allocate 30% of its portfolio to private markets, up from 18%, with the fund aiming to invest around £5bn through IFM by 2030. Nest has already invested £450m in a European infrastructure fund launched by IFM a year earlier and £500m in a global infrastructure fund announced in October.
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