Schroders Capital has been appointed by the Greater Manchester Pension Fund (GMPF) to manage its £700 million UK real estate portfolio.
The GMPF has appointed the Schroders real estate team to manage its diversified portfolio of over £700 million in direct real estate assets across industrial, office, retail, and hotels sectors.
Schroders says the appointment allows it to strengthen its presence in Manchester, following Schroders’ new Manchester office opening at 2 St. Peters Square earlier this year.
Fund Manager for the GMPF portfolio at Schroders Capital Philip Scott will relocate to Manchester and be supported by additional new hires across our regional portfolios.
Schroders global head of real estate Sophie Van Oosterom says: “I am absolutely delighted that we will partner with GMPF on the management of their UK direct real estate assets. GMPF is a key strategic client for our real estate business, and we look forward to delivering on its investment strategy and objectives, supported by our specialist investment team’s strong operational focus on creating long-term sustainable returns and value.
“We will also work closely with GMPF to deliver a best in class approach to environmental, social and governance considerations and impact.”
Schroders head of UK investment Nick Montgomery says: “This is a fantastic win for the business and follows continued outperformance for clients across our UK real estate portfolios. We are looking forward to building on our already strong relationship with GMPF and growing our team in Manchester, bringing us even closer to our assets and the occupier and investment markets in which our team is operating.”
Schroders co-head of UK and Ireland institutional Claire Glennon says: “For over 30 years, Schroders has been working in partnership with local authorities to manage their pension assets.
“Being selected by GMPF to manage this diversified real estate portfolio is further recognition of our credentials in the Local Government Pension Scheme sector. We are focused on continuing to set new standards in the delivery of performance and service as we build on our already strong relationship with GMPF.”
