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PPF hires six global real estate managers

16 April 2014

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The Pension Protection Fund (PPF) has appointed six investment managers to oversee a real estate mandate.

CBRE Global Investors, SC Capital Partners, Europa Capital Partners, LaSalle Investment Management, Morgan Stanley Real Estate Advisor and Patron Capital have been hired to be part of a panel of global (excluding UK) real estate investment managers during 2013/14.

In a tender, the PPF said that the panel of managers will invest mainly through regional, multi-sector pooled funds, investing in real estate equity in Europe, Asia Pacific and the US.

The PPF also said in the tender that the board was considering managers offering core open-ended fund strategies for European and Asia Pacific real estate and it said it was considering managers offering higher risk/return, closed-ended, strategies, such as value-add and opportunistic fund strategies for part of its allocation in these two regions.

In terms of strategies for the US, the PPF said that it was exclusively looking for an open-ended core style.

The PPF also noted in the tender that the proportion of PPF assets that may be allocated to real estate will depend on the opportunities available at any given time.

First published 16.04.2014

monique_simpson@wilmington.co.uk