Key Takeaways
- • Schroders Capital has secured a £2 billion real estate mandate from the Wales Pension Partnership (WPP), a collaboration of the eight Local Government Pension Funds in Wales and one of eight LGPS pools in the UK, according to CoStar.
- • The mandate builds on a £500 million private equity mandate WPP awarded Schroders Capital last year to invest in global private equity.
- • Per publisher coverage, the £2 billion allocation is split into two mandates: a UK core real estate strategy and an impact strategy, with roughly a fifth of the total expected to be deployed into impact investments.
- • The WPP manages approximately £22.5 billion to £23 billion in assets, per reports cited in the publisher context.
- • The award converts a £2 billion allocation of roughly $2.6 billion, positioning Schroders Capital as a core real estate manager for the pool.
Summary
Schroders Capital has secured a £2 billion real estate mandate from the Wales Pension Partnership, a collaboration of the eight Local Government Pension Funds in Wales and one of the eight local government pension pools in England and Wales, according to CoStar's report dated August 14, 2024. The publisher's full article is available only to CoStar subscribers, so the details below draw on the publicly visible summary and related coverage of the same award.
The mandate builds on a £500 million instruction the WPP gave Schroders Capital last year to invest in global private equity. Coverage from the publisher context indicates the new award is split into two strategies: a UK core real estate strategy and an impact-focused strategy. One report notes that roughly a fifth of the £2 billion allocation will be used for impact investments, with the remainder directed to core real estate.
The WPP, based in Carmarthen, has assets of approximately £22.5 billion to £23 billion, according to reports in the publisher context. Reports describe the £2 billion allocation as equivalent to about $2.6 billion.
The award is a further sign of the pool's growing use of external managers for real estate and impact allocations as Welsh LGPS funds consolidate investment through the pool structure. For allocators tracking UK local government pension consolidation, the mandate illustrates how pools are combining listed and unlisted real estate exposure with impact-oriented sleeves.
The mandate builds on a £500 million instruction the WPP gave Schroders Capital last year to invest in global private equity. Coverage from the publisher context indicates the new award is split into two strategies: a UK core real estate strategy and an impact-focused strategy. One report notes that roughly a fifth of the £2 billion allocation will be used for impact investments, with the remainder directed to core real estate.
The WPP, based in Carmarthen, has assets of approximately £22.5 billion to £23 billion, according to reports in the publisher context. Reports describe the £2 billion allocation as equivalent to about $2.6 billion.
The award is a further sign of the pool's growing use of external managers for real estate and impact allocations as Welsh LGPS funds consolidate investment through the pool structure. For allocators tracking UK local government pension consolidation, the mandate illustrates how pools are combining listed and unlisted real estate exposure with impact-oriented sleeves.
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