Local Pensions Partnership Investments Ltd (LPPI) has set up the Real Estate Fund with over £800m of direct UK property investment assets.
A further £460m of property assets are due to join the fund over the coming months, which is expected to grow to around £2bn over the next three years.
Chris Rule, CEO of LPP, said: ‘The LPPI Real Estate Fund represents another important milestone in LPPI’s three-year history. We now manage more than £17bn of pension assets on behalf of our clients and their members.
‘We are extremely proud of LPPI’s record in delivering a diverse range of high quality, low cost and distinctive investment propositions to meet clients’ asset allocation requirements.’