The UK local government pension scheme Border to Coast has launched a UK Real Estate Fund.
According to a press statement, the fund aims to rank among the top ten largest UK real estate funds.
The fund aims to provide cost-effective access to high-quality UK assets offering long-term, durable income and stable returns.
Three LGPS partner funds in the UK have pooled assets of £1.2bn at launch: Tyne and Wear Pension Fund, Cumbria Pension Fund, and South Yorkshire Pensions Authority, which have collaborated to pool 65 existing holdings to seed the vehicle.
Joe McDonnell, Chief Investment Officer, Border to Coast, said: “The launch of UK Real Estate is testament to the progress our partnership has made to date. It is a sophisticated proposition that draws on the benefits of scale to unlock greater access to quality, long-term investment opportunities in the UK for Partner Funds.
“That same scale has enabled us to build a dedicated and highly skilled in-house team with years of experience in the UK real estate market to support Partner Funds. The depth of expertise we have at Border to Coast coupled with the ongoing support of Partner Funds enables us to launch propositions that truly make a difference for the LGPS.”
