Invesco Real Estate, the £67.2bn global real estate investment business of Invesco Ltd, has has been appointed by Legal & General’s Private Markets Access Fund to provide real estate exposure in the US and Asia.
The partnership follows the announcement of L&G’s Private Markets Access Fund in July, launched to provide the benefits of private markets exposure to its 5.3 million defined contribution (DC) members. Structured as a Fund of Funds, it brings together a range of different private market opportunities, the global real estate component of which will be managed by Invesco.
Pension scheme members invested in L&G’s Fund will benefit from Invesco’s direct property exposure spanning the US and Asia Pacific developed markets. Providing access to global direct real estate increases the range of investable opportunities and offers the potential to reduce risk and enhance returns. Investors will also benefit from Invesco Real Estate’s active approach to sustainable investing, which aims to reduce risk and enhance performance by providing better buildings (e.g. optimising building utility performance); utilising frameworks to support investment decisions and to future proof assets in a changing market.
Sachin Bhatia, Head of UK Institutional & EMEA Consultant Relations, said: “Increasing the ease of access to private markets could offer great investment opportunities when looking to drive better outcomes for members of DC pensions schemes.
“However, despite longstanding demand from DC schemes to invest in global real estate, this asset class has often been the preserve of the largest institutional investors and sovereign wealth funds. L&G shares our belief that DC members deserve the same opportunities.”
