Key Takeaways
- • CBRE Investment Management has been awarded a £500m global real estate mandate by the Wales Pension Partnership (WPP), according to the primary source.
- • The mandate expands an existing global real assets relationship, following WPP's prior investment in the CBRE Global Infrastructure Fund the previous year.
- • The appointment completes WPP's real estate offering, with CBRE IM serving as its global real estate manager alongside specialist managers in other private markets sub-sectors.
- • CBRE IM says the mandate is part of a broader push for Local Government Pension Scheme (LGPS) pool mandates, underscoring the importance of the LGPS client base to its platform.
Summary
CBRE Investment Management has been awarded a £500m global real estate mandate by the Wales Pension Partnership (WPP), according to the BE News report. The appointment makes CBRE IM the global real estate manager for the pool and completes WPP's real estate offering.
The mandate builds on an existing global real assets relationship between the two parties. WPP previously invested in the CBRE Global Infrastructure Fund in the prior year, and the new award deepens that partnership.
Councillor Elwyn Williams, chair of the joint governance committee at WPP, said the appointment is an example of the pool's commitment to working with specialist managers within each relevant private markets sub-sector.
Achal Gandhi, chief investment officer, indirect strategies at CBRE Investment Management, said the firm was thrilled to expand its strategic partnership with WPP. He noted that the mandate, alongside a number of other LGPS pool mandates CBRE IM is pursuing, underscores the importance of the LGPS to the firm's platform and its commitment to tailored strategies aligned with the long-term objectives of that client base.
Catriona Buckley, UK client solutions at CBRE Investment Management, said the appointment reflects long-standing relationships with several Welsh constituent authorities and the firm's dedication to bespoke client solutions.
The mandate builds on an existing global real assets relationship between the two parties. WPP previously invested in the CBRE Global Infrastructure Fund in the prior year, and the new award deepens that partnership.
Councillor Elwyn Williams, chair of the joint governance committee at WPP, said the appointment is an example of the pool's commitment to working with specialist managers within each relevant private markets sub-sector.
Achal Gandhi, chief investment officer, indirect strategies at CBRE Investment Management, said the firm was thrilled to expand its strategic partnership with WPP. He noted that the mandate, alongside a number of other LGPS pool mandates CBRE IM is pursuing, underscores the importance of the LGPS to the firm's platform and its commitment to tailored strategies aligned with the long-term objectives of that client base.
Catriona Buckley, UK client solutions at CBRE Investment Management, said the appointment reflects long-standing relationships with several Welsh constituent authorities and the firm's dedication to bespoke client solutions.
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