Schroders Capital, the $97.3 billion private markets business of Schroders Group, has been awarded a £2bn real estate mandate by the Wales Pension Partnership (WPP), a collaboration of the eight LGPS funds in Wales and one of eight Local Government Pension pools.
The mandate win builds on the £500 million mandate awarded by WPP to Schroders Capital last year to invest in global private equity.
Schroders Capital’s real estate team will deploy up to £400 million in positive impact and local investments across Wales, including local employment generating opportunities, affordable housing and healthcare.
The mandate will also target impact opportunities across the UK which deliver positive social impact and decarbonisation strategies that support WPP’s net zero ambitions.
The remainder of the mandate will be invested in UK core real estate focused on the industrial, retail and office sectors, as well as specialist and operational real estate such as hotels, self-storage and student accommodation.
Sophie van Oosterom, Global Head of Real Estate, Schroders Capital, said: “Our clients and investors are increasingly demanding more from their real estate exposure and managers – they want to see a razor-sharp focus on sustainability, delivering positive impact and operational excellence to optimise long-term income and value.”
