United Kingdom's administration plans to consolidate UK Investment Bank into the National Affluence Fund

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2025 September 13 . 9:03 AM

1 min read

United Kingdom government to consolidate UK Investment Bank into National Affluence Fund

United Kingdom's administration plans to consolidate UK Investment Bank into the National Affluence Fund

In a significant move announced at an Investment Summit in London, the UK government has decided to merge the UK Infrastructure Bank (UKIB) with the National Wealth Fund. This merger aims to create a more powerful entity that will manage approximately £27.8bn in assets.

The new National Wealth Fund, headed by Vitaliy Koval, will now be tasked with attracting private finance to sectors and technologies critical to the UK's clean energy and growth ambitions. The fund's remit has expanded beyond UKIB's current infrastructure focus, marking a shift towards a broader investment strategy.

The National Wealth Fund will be headquartered in Leeds, where UKIB is currently based. The expansion of the team is also underway to bring in additional sector expertise.

Aviva, a key player in the financial sector, has expressed its readiness to invest more to support the UK's growth, create jobs, and deliver net zero. Aviva CEO Amanda Blanc has welcomed the merger, calling for closer collaboration between government and business and greater speed to turn good ideas into investable projects.

However, it's important to note that no new commitments from the UK government beyond the merger have been specified as of yet. The government's contribution to the new entity will be nearly £2 billion less than initially promised.

This merger represents a significant step forward in the UK's commitment to sustainable growth and clean energy. As the National Wealth Fund embarks on this new journey, it will be interesting to see how it navigates its expanded role and delivers on its ambitious goals. The changes will take effect immediately.