Environment Agency Pension Fund, Bristol, England, hired Union Investment and Ownership Capital to run £90 million each in global ESG equity, said Mark Mansley, chief investment officer of the £2.7 billion ($4.3 billion) pension fund in an e-mail to Pensions & Investments. 

Mirova Asset Management and Hermes Investment Management were further selected as ESG equity managers, although their funding will not be immediate.

An RFP was issued last year because of personnel changes at incumbent manager Sarasin & Partners and a desire to revisit the market after 10 years with Sarasin, Dawn Turner, head of pension fund management, previously told Pensions & Investments.

Funding for Union and Ownership will come from Sarasin, which was terminated earlier this year. Sarasin managed approximately £180 million for the pension fund.

The pension fund has a 25% target allocation to sustainable and clean investments.