Investors make real estate commitments
European investors have seen no let up in activity this summer, as commercial real estate mandates have been finalised.
The United Kingdom’s National Employment Savings Trust (NEST), a trust-based defined contribution (DC) workplace pension scheme available to all employers, has given two real estate mandates to funds managed by Legal & General Property (LGP). NEST is making real estate investing available to members through the Legal & General Hybrid Property Fund, which is aimed at DC pension arrangements and invests in LGP’s Managed Property Fund and Legal & General Investment Management’s (LGIM) Global Real Estate Equity Index tracker fund. The investments are split 70-30 between the venture.
French pension fund