Border to Coast seeks real estate manager for £5bn offering

The UK pension pool is seeking a real estate manager for its £5 billion real estate offering.

Institution: Border to Coast Pensions Partnership

Headquarters: Leeds, UK

AUM: £46 billion ($64 billion; €52.9 billion)

Border to Coast Pensions has announced that it is looking for an adviser to source a private real estate manager in order to launch a new real estate proposition within the next two years.

In partnership with 11 other pension funds, Border to Coast is looking to invest up to £3.5 billion into the asset class through its UK direct Real Estate Fund. The pension is also looking to source a global fund consultant to help manage and deploy up to £1.5 billion through its Global indirect Real Estate Fund outside of the UK in addition to the UK fund. The global fund will likely launch in 2022 with the UK fund following thereafter.

PERE News reached out to Border to Coast with regards to specific requirements for an adviser and subsequent real estate manager. A contact at the pension states that the pension has yet to determine the sector focus of upcoming investments as the offering is still in the early stages of development.

Platinum subscribers may click here for the investor’s full profile, including key contacts, allocation strategy and fund investments.