Border to Coast launches two real estate funds

Border to Coast Pensions Partnership, the largest U.K. local government pension scheme (LGPS) pool, has launched two new real estate funds on behalf of its partner funds. The funds are launched with an initial £870 million ($1.1 billion). With additional future commitments anticipated, the funds could grow to more than £1 billion ($1.27 billion).

The two funds, Global Core and Global Value-Add, respond to partner funds’ desire to invest in global real estate with the benefits of pooling. This includes greater control over investments, an enhanced approach to responsible investment and reduced costs.

“With the launch of these funds, Border to Coast can offer our partner funds investment opportunities across the suite of typical pension scheme asset classes,” said Joe McDonnell, chief investment officer at Border to Coast. “These two global real estate funds provide partner funds with the flexibility to set a bespoke risk adjusted return profile for global rea