ACCESS is searching for managers for mandates worth a combined £350m, while the Wales pool has confirmed the appointment of CBRE to run a real estate strategy.
The pool plans to allocate £200m to a European mandate and £150m to a US strategy initially, but wants to be able to make further commitments.
The mandates will provide ACCESS’s 11 client funds with exposure to senior secured direct loans to corporates “with a focus on the core middle market, to a mainly private equity sponsor-backed borrower base”, according to a statement from the pool.
Managers interested in pitching have until 2pm on 6 September to submit proposals. Apex Group is overseeing the initial manager search as an adviser to ACCESS. More details are available on the pool’s website.
Welsh pool confirms £500m property mandate
The Wales Pension Partnership has awarded CBRE Investment Management with a £500m global real estate mandate.
It follows a £2bn commitment from the pool to two UK-focused real estate strategies run by Schroders.
The CBRE mandate will invest in “high-quality real estate assets across regions and sectors”, the manager said.
CBRE already runs a global infrastructure fund that the Wales Pension Partnership invested in last year, and manages property mandates worth a combined £2.4bn for the ACCESS pool.
Catriona Buckley, senior director of UK client solutions at CBRE Investment Management, said: “This appointment is a testament to the long-standing relationships CBRE IM has sustained with a number of the Welsh constituent authorities and underscores our dedication to providing bespoke client solutions. We look forward to fostering strong partnerships and continuing to drive value for our LGPS clients.”
Further reading
Wales pool awards £2bn property mandate to Schroders (14 August 2024)
ACCESS pool backs L&G housing fund with £125m (15 July 2024)
ACCESS pool adds £250m long-lease mandate (4 June 2024)
