LPP launches real estate fund

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LGPS pool Local Pensions Partnership (LPP) has created a real estate fund with more than £800m of direct UK property investment assets and a further £460m of property assets.

The launch of the LPP Real Estate fund brings the number of distinct asset class specific investment pooling vehicles that LPP offers its clients to eight.

Chris Rule, chief executive of LPP, said: “The LPP 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.”