U.K. pension fund commits £25m to real estate
The £15.6 billion ($22.2 billion) Strathclyde Pension Fund, a Glasgow-based pension plan, has committed an additional £25 million ($32.5 million) to Ediston Real Estate for its Clydebuilt Fund, according to recent meeting documents.
The pension fund originally committed £50 million ($71.1 million) to the fund in 2013, which was expected to be utilized until the end of 2016. According to meeting documents, the pension fund is increasing its commitment to “allow the fund to take advantage of continuing and emerging opportunities.” The fund targets properties worth no more than £10 million ($14.2 million) in Glasgow and the surrounding area.
The pension fund has a 12 percent target allocation to real estate.