Key Takeaways
- • Border to Coast Pensions Partnership, the largest UK Local Government Pension Scheme pool, launched a £1.2 billion UK real estate fund, which the law firm Burges Salmon describes as one of the largest of its kind in the UK.
- • The fund is structured as an authorised contractual scheme, an FCA-regulated investment structure.
- • The portfolio comprises 65 assets across office, retail, care home, student accommodation, industrial and warehouse space, located in 26 UK counties.
- • Border to Coast aims to more than double the fund to over £3 billion within five years, according to Head of Real Estate Alistair Smith.
- • Partner funds Tyne and Wear Pension Fund, Cumbria Pension Fund and South Yorkshire Pensions Authority are working with Border to Coast on the fund.
Summary
Burges Salmon, an independent UK law firm, advised Border to Coast Pensions Partnership on the launch of its £1.2 billion UK real estate fund, according to the firm's announcement. Border to Coast is the largest UK Local Government Pension Scheme pool. The fund is an authorised contractual scheme, an FCA-regulated investment structure, and its launch was described by the firm as one of the largest of its kind in the UK.
The fund's portfolio includes 65 assets spanning office, retail, care home, student accommodation, industrial and warehouse space, located across 26 UK counties. The launch was undertaken in collaboration with Tyne and Wear Pension Fund, Cumbria Pension Fund and South Yorkshire Pensions Authority.
Burges Salmon's team, led by director Christopher Bartlett and partners Tom Dunn and Richard Clark, advised on real estate, funds structuring and tax. Bartlett said the project was demanding and complex, lasting over a year, and required a "one team" approach. Alistair Smith, Head of Real Estate at Border to Coast, said the firm believes the UK market offers significant opportunity and that further capital commitments from Partner Funds make £3 billion a realistically achievable objective for the UK real estate proposition.
Border to Coast hopes to more than double the fund's size over the next five years to exceed £3 billion. The source material is a law firm announcement, so the figures reflect the parties' own statements rather than independent verification.
The fund's portfolio includes 65 assets spanning office, retail, care home, student accommodation, industrial and warehouse space, located across 26 UK counties. The launch was undertaken in collaboration with Tyne and Wear Pension Fund, Cumbria Pension Fund and South Yorkshire Pensions Authority.
Burges Salmon's team, led by director Christopher Bartlett and partners Tom Dunn and Richard Clark, advised on real estate, funds structuring and tax. Bartlett said the project was demanding and complex, lasting over a year, and required a "one team" approach. Alistair Smith, Head of Real Estate at Border to Coast, said the firm believes the UK market offers significant opportunity and that further capital commitments from Partner Funds make £3 billion a realistically achievable objective for the UK real estate proposition.
Border to Coast hopes to more than double the fund's size over the next five years to exceed £3 billion. The source material is a law firm announcement, so the figures reflect the parties' own statements rather than independent verification.
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