PIC invests £250m in debt issued by City of London

The Pension Insurance Corporation, a specialist insurer of defined benefit pension funds, has invested £250m in debt issued by the City of London Corporation for an ambitious programme of major projects designed to benefit the Square Mile, London and the UK.

The projects include the proposed relocation and development of three of the city’s historic wholesale food markets – Billingsgate (fish), Smithfield (meat) and New Spitalfields (fruit, veg and flower) markets – to a former power station site in Barking and Dagenham. It would also help fund the Museum of London’s relocation to West Smithfield.  Another positive step toward or vision for the markets.