Wales Pension Partnership awards real estate investment contracts

The Wales Pension Partnership (WPP), a collaboration of the eight LGPS funds in Wales, has appointed Schroders Capital and CBRE to help facilitate implementation of its real estate investment proposition, following a rigorous public procurement exercise supported by bfinance and Hymans Robertson.  

The real estate investment program will be centered around three pillars: U.K. core real estate, which will take existing pooled fund investments and transition them over time to an open-end direct property investment portfolio; international real estate, which will establish an open-end investment vehicle investing in funds and direct assets on a global basis; and local/impact real estate, which will develop an investment program utilizing fund investments and direct asset investments in U.K. impact strategies, with at least 50 percent of assets located in Wales.