News

The Wales Pension Partnership (WPP) announces the latest in its series of appointments to facilitate implementation of its Private Markets investment solutions.

The WPP will establish a WPP Real Estate investment proposition built around three pillars

• UK Core Real Estate, to take existing pooled fund investments and transition them over time to an open-ended direct property investment portfolio.
• International Real Estate, to establish an open-ended investment vehicle investing in funds and direct assets on a global basis.
•  Local / Impact Real Estate, to develop an investment programme utilising fund investments and direct asset investments in UK Impact strategies, with at least 50% of assets located in Wales.

Following the completion of a rigorous public procurement process, with the support of bfinance and Hymans Robertson, Private Real Estate Investment Managers have been appointed. The appointed managers are:

• UK Core Real Estate – Schroders
• International Real Estate – CBRE
• Impact / Local Real Estate – Schroders

Cllr Elwyn Williams, Chair of the Joint Governance Committee commented:

“These appointments conclude the majority of the private markets investment managers for WPP. Real Estate is a core asset class for the 8 Welsh Constituent Authorities and these managers will provide the investments they need to meet their local strategic asset allocations.”

The Wales Pension Partnership (WPP) comprises the following LGPS funds: Cardiff and Vale of Glamorgan, City and County of Swansea, Clwyd, Dyfed, Greater Gwent (Torfaen), Gwynedd, Powys and Rhondda Cynon Taf.