Aberdeen Asset Management has picked up a European multi-manager mandate from the Employees Retirement System of Texas.
The Pan-European portfolio will be constructed and managed by Aberdeen’s property multi-manager team.
Aberdeen manages around $2bn in European property multi-manager mandates, with further assets under management in Asia and the Americas.
Robert Sessa, director of real estate for ERS of Texas, said: “We believe the current market volatility in Europe will provide us with attractive risk-adjusted investment opportunities. We look forward to working with the Aberdeen team.”
Jon Lekander, global head of property multi-manager for Aberdeen, said: “We are very pleased with the decision from ERS of Texas in awarding us this mandate. We are seeing increasing interest from US institutional investors as they look to take advantage of opportunities afforded by market re-pricing in Europe and to diversify their property exposure into overseas markets.”
bridget.oconnell@estatesgazette.com
