CBRE Global Investors has been awarded a property mandate from London Borough of Hounslow Pension Fund.
CBRE Global Investors has been awarded a property mandate from London Borough of Hounslow Pension Fund.
The £690 mln (€810 mln) pension fund tendered the mandate in March and has appointed two managers to manage 5% of the fund’s assets. CBRE Global Investors' allocation will be invested into the UK Flagship Pooled Fund: CBRE Lionbrook Property Fund (Lionbrook).
Lorelei Watson, head of treasury, pensions and capital at the London Borough of Hounslow, said: 'We liked Lionbrook’s balance between high quality real estate, and pipeline of added value asset management projects. These, combined with a clear house approach towards cash flow management and income outperformance, made Lionbrook a complimentary choice for our investment strategy.'
