LifeSight, WTW’s defined contribution (DC) master trust, has today announced a landmark investment of £450 million in the Schroders Greencoat Global Renewables+ Long-Term Asset Fund (LTAF), with the potential for further commitments in the future.

The investment will be incorporated into LifeSight’s core default funds, ensuring that the vast majority of its members directly benefit from the strategy. This move marks a significant step in LifeSight’s mission to deliver strong, sustainable returns while supporting the global transition to clean energy.

The Schroders Greencoat Global Renewables+ LTAF is designed to deliver robust, predictable returns by investing in a diversified portfolio of renewable energy and energy-transition-aligned infrastructure assets. Targeting returns above traditional listed equities, the fund will give LifeSight members exposure to high-quality opportunities across the UK, Europe, the US, and other OECD countries.

Key focus areas for the fund include wind and solar power, large-scale battery storage, energy-efficient heat networks, and green hydrogen projects. With a clear environmental objective to contribute to climate change mitigation, the fund’s strategy is fully aligned with LifeSight’s own commitment to achieving net zero.

Andrew Doyle, Lead Investment adviser for LifeSight, said: “We are delighted to make this investment on behalf of our members. Our scale as one of the largest master trusts in the UK means we are able to access specialist managers and innovative investments that enhance the portfolios of our members in our core defaults. This strategic investment underscores LifeSight’s commitment to sustainable and responsible investing, aligning with global efforts to transition to renewable energy sources, with the aim of delivering strong pension outcomes for members. It also supports our efforts to invest in UK private markets, which is aligned with the recent Mansion House Accord.”

Tatiana Zervos, Portfolio Manager for Schroders Greencoat, said: “LifeSight’s investment into Schroders Greencoat Global Renewables+ LTAF marks a significant step forward in the DC market’s efforts to support the transformation of the energy system in the UK and beyond. Schroders Greencoat is dedicated to investing in this critical asset class; these assets not only offer attractive and diversifying returns relative to investments traditionally offered to DC members, but also provide transparent and tangible sustainability benefits, offering DC members the opportunity to play their part in abating carbon emissions, contribute to energy security and help control the costs paid by consumers.”

Torsten Bell, Minister for Pensions, said: “This is a welcome step to invest more in infrastructure, especially energy infrastructure projects, since the signing of the Mansion House Accord in May. Working together, government and industry will deliver the investment our future prosperity depends on, supporting better outcomes for savers and faster growth for Britain.”