Greater Manchester Pension makes €577m investment in Bruntwood SciTech
Bruntwood SciTech, the United Kingdom’s leading specialist property provider, founded by Legal & General and Bruntwood in 2018 to support the growth of the life science and tech sectors, has secured £500 million (€577 million/$609 million) of additional investment and welcomed one of the nation’s largest local authority pension funds, Greater Manchester Pension Fund (GMPF), to the partnership.
GMPF is the first local government pension scheme to make a direct and active investment into a U.K.-wide science, tech and innovation specialist property platform. The deal demonstrates the role that such funds can play in regenerating U.K. towns and cities; helping to create highly skilled jobs, increase productivity and drive wage growth; and supporting the United Kingdom’s target to become a global science and technology superpower by 2030.
Now the largest dedicated property platform serving the United Kingdom’s innovation economy, Bruntwood SciTech aims to cre