A who’s who of players in the investment management market have been lined up to work across the property portfolios of three Northern pension funds.
The Northern LGPS pools the pension funds for Greater Manchester, Merseyside and West Yorkshire, and has £46bn in assets under management. Last year it set out to assign firms to its £12m Northern LGPS Property Framework, operating across six lots. The chosen companies will now be able to tender for specific work in their assigned lots.
In the first lot, managing a discretionary UK direct property portfolio, the selected companies are AEW UK Investment Management, Aviva Investors Global Services, CBRE Global Investors, DTZ Investors, Hermes Investment Management, LaSalle Investment Management, Legal and General Investment Management, M&G Real Estate, Mayfair Capital Investment Management, PGIM Real Estate, Schroder Real Estate Investment Management and UBS Asset Management.
CBRE, DTZ, LaSalle, Mayfair Capital and Schroders were also appointed on the second lot, for the management of an advisory UK direct property portfolio, alongside Aberdeen Standard Investments and BNP Paribas Real Estate Advisory.
In the third lot, to provide property management services, the selected firms are Avison Young, BNP Paribas, CBRE, Cushman & Wakefield, Knight Frank and Savills.
In the fourth, advising on management and consultancy services on a regional portfolio, APAM, Avison Young, CBRE and Cushman were chosen.
In the fifth lot, for property valuation services, contracts were awarded to Avison Young, BNP Paribas, CBRE, Colliers, Cushman & Wakefield and Savills, while in the final lot – for a portfolio that requires intensive asset management – the selected firms were AEW, APAM, CBRE, Threadneedle Asset Management, Fiera Real Estate, Praxis, Schroders and UBS.
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