Greater Manchester Pension Fund has picked Schroders Capital to manage its £700m UK real estate portfolio.
The portfolio comprises industrial, office, retail and hotel assets, including the Island Road logistics development in Reading (pictured).
Schroders Capital opened a new Manchester office at 2 St Peters Square earlier this year, and said the new mandate will allow it to consolidate its presence in the city.
Philip Scott, Schroders Capital’s fund manager for the GMPF portfolio, will relocate to Manchester from London to oversee the mandate, supported by new regional hires.
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