Cushman & Wakefield Investors, the real estate investment management arm of New York-based property services firm Cushman & Wakefield, has won a management mandate from the Swedish pension fund manager Alecta Investment Management.
The instruction is for the management of 12 offices and warehouses across France in cities including Lyon, Bordeaux and Toulouse.
David Rendall, European chief executive officer of Cushman & Wakefield Investors, said: “We see a lot of potential on a selective basis in regional France, notably to benefit from lower volatility at attractive prices.”
Alecta has more than €40 billion in assets under management, of which approximately 7 percent is invested in real estate, predominantly in Sweden, the Netherlands, the UK and the US. The capital invested is from 1.7 million private individuals and 30,000 client companies.