FRANCE – ERAFP, the French civil servants pension fund, has awarded one active and two standby real estate investment mandates in France.
The pension fund said the mandates were in line with the “broadening” of its investment universe and in accordance with the values of its socially responsible investment (SRI) charter.
Completing a selection process initiated in February of last year, ERAFP awarded the mandate for investments in France to AEW Europe SGP, while selecting Amundi Immobilier and La Française Real Estate Managers as standby managers.
The investments will be made principally offices and retail, but also in housing and student accommodation.
In time, the scheme may also invest in other asset classes such as logistics facilities and serviced accommodation, it said.
The investments, which will be made over a three-year horizon, are estimated at around €310m.
The contract has a 10-year term.
A signatory of the UN Principles for Responsible Investment, ERAFP adopted an SRI charter in 2006 based on respect of the right of law and human rights; social progress, social democracy and the environment; and proper governance and transparency.
The scheme has nearly €14bn invested in accordance with a wholly SRI approach.