Key Takeaways
- • Schroders Capital has been appointed by the Greater Manchester Pension Fund (GMPF) to manage its £700 million (€814m) UK real estate portfolio, according to publisher snippets.
- • The mandate covers GMPF's diversified direct real estate portfolio, which sits within a £27.6bn pension fund.
- • The appointment extends a long-running relationship; Schroders' real estate team was first awarded a segregated account real estate mandate by a UK public pension scheme in 1997.
- • Schroders has also completed a fifth acquisition for GMPF, a 59-bed care property, per a Philip Scott post on LinkedIn.
Summary
Schroders Capital has been appointed by the Greater Manchester Pension Fund (GMPF) to manage its £700 million (€814m) UK real estate portfolio, according to coverage from Corporate Adviser and related publisher snippets. The Greater Manchester Pension Fund, which has total assets of £27.6bn, has appointed the Schroders Capital real estate team to manage its diversified direct real estate portfolio, worth more than £700 million.
The GMPF's investment strategy sets a target size for the real estate mandate of 2 per cent of the main fund value. Gresham House and Bridges are among the external fund managers already operating within the broader portfolio.
The mandate reinforces Schroders Capital's standing with UK local government pension schemes. The firm was awarded its first segregated account real estate mandate in 1997, believed to be the first of its kind in the UK by a public pension scheme. Schroders has also recently completed its fifth acquisition for GMPF, a 59-bed care property, according to a post by Philip Scott.
Source coverage for this story was limited, as the original Corporate Adviser article could not be fully retrieved. Details on fees, contract term and the precise start date were not available in the sources reviewed.
The GMPF's investment strategy sets a target size for the real estate mandate of 2 per cent of the main fund value. Gresham House and Bridges are among the external fund managers already operating within the broader portfolio.
The mandate reinforces Schroders Capital's standing with UK local government pension schemes. The firm was awarded its first segregated account real estate mandate in 1997, believed to be the first of its kind in the UK by a public pension scheme. Schroders has also recently completed its fifth acquisition for GMPF, a 59-bed care property, according to a post by Philip Scott.
Source coverage for this story was limited, as the original Corporate Adviser article could not be fully retrieved. Details on fees, contract term and the precise start date were not available in the sources reviewed.
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