Royal London Asset Management is to acquire infrastructure investor Dalmore Capital.

Dalmore has £6bn AUM across five funds including 130 infrastructure assets that include the Thames Tideway Tunnel and wind and hydro power facilities. The deal comes after RLAM signed up to the Mansion House Accord pledging to allocate at least 10% of its assets to private markets by 2030.

RLAM says it will invest up to £500m in Dalmore funds as part of the deal and will become part of Royal London Asset Management as a stand-alone unit.

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