UK’s BII Bets on Pension, Sovereign Funds to Raise $9.5 Billion

British International Investment intends to tap £7 billion ($9.45 billion) held by insurers, pension and sovereign wealth funds as co-investment into various projects globally over the next five years.

In total, the UK’s development finance institution will invest £15 billion over that period, according to Chief Executive Officer Leslie Maasdorp. BII will provide £8 billion of the amount, with the remainder coming from pooled domestic savings, he said in an interview.