Border to Coast Pensions Partnership, the largest U.K. local government pension scheme, committed €80 million ($87.6 million) to Hines European Real Estate Partners III (HEREP III), as part of HEREP III’s final closing at the end of November 2023.
HEREP III closed with more than €1.6 billion ($1.75 billion) of capital commitments, surpassing its initial target of €1.5 billion ($1.64 billion). The fund will prioritize making investments in purpose-built student accommodation, distribution logistics and highly sustainable office spaces in prime locations.
“Border to Coast has strong focus on environmental, social and governance factors — ESG — and the impact this will have on asset values in the longer term,” said Paul Campbell, real estate portfolio manager at Border to Coast. “Partnering with Hines, a real estate specialist investment manager with strong ESG credentials, will enable us to deliver for our Partner Funds.”
For more information a
