ACCESS LGPS Pool appoints CBRE Investment Management to UK and Global Property mandates
6th November 2023: ACCESS has appointed CBRE Investment Management (“CBRE IM”) to manage both a UK Core real estate and a Global real estate mandates.
As a specialist manager, CBRE IM will work in partnership with ACCESS to help leverage the cost-effective scale of pooling, establishing access to both UK and Global real estate investment opportunities. The appointment marks the first step in the launch of a pooled real estate investment proposition for ACCESS’ partner funds.
It is anticipated that the mandate size for the UK Core real estate mandate will be up to c. £1.25 billion, and c. £550 million for the Global real estate mandate, with potential to grow thereafter in line with the Authorities’ strategic asset allocations.
Real estate is the first illiquid asset class to be considered for pooling within private markets for ACCESS.
Cllr Mark Kemp-Gee, Chairman of the ACCESS Joint Committee, said, “We are very pleased to confirm CBRE Investment Management as the partner to manage these significant property mandates. They bring extensive expertise and deep knowledge of the market. It is another major step in ACCESS’ progress as we build our offering and leverage our own scale on behalf of our Authorities.”
Hannah Marshall, CIO – UK Direct Real Estate at CBRE Investment Management, said: “We are delighted to have been chosen by ACCESS to partner with them to support their long-term goals for direct and indirect real estate strategies. Our extensive local and global experience, as well as our ability to offer cohesive oversight of the direct and indirect processes, access to a large investment pipeline and a track record of delivering strong returns, met with their investment objectives. We look forward to this collaboration with ACCESS and building a portfolio that aims to generate sustainable income and provide long-term value to its members.“
knowledge of the market. It is another major step in ACCESS’ progress as we build our offering and leverage our own scale to invest our own scale for our stakeholders’ investments.”
Charlotte Merlin-Jones, MHP Group
Helen Stott, CBRE Investment Management
email@example.com / +44 7824 864 875
Notes for Editors
About the ACCESS Pool
The ACCESS (A Collaboration of Central, Eastern and Southern Shires) is made of 11 LGPS Administering Authorities: Cambridgeshire County Council; East Sussex County Council; Essex County Council; Hampshire County Council; Hertfordshire County Council; Isle of Wight Council; Kent County Council; Norfolk County Council; West Northamptonshire Council; Suffolk County Council; and West Sussex County Council.
ACCESS Authorities are committed to working together and have each signed an Inter Authority Agreement, setting out how they will work together in response to the Governments pooling agenda across the LGPS, and to optimise benefits and efficiencies on behalf of their individual and collective stakeholders.
As at 30 September 2023, ACCESS’ pooled assets totalled £35bn.
About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $147.6 billion in assets under management* as of June 30, 2023, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.
CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2022 revenue). CBRE has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.