Border to Coast Pensions Partnership has committed $90m (€77.3m) to real estate investment manager Heitman for investment in value-add North American assets.
Heitman said its North American value-add real estate series secured the commitments from the UK local government pension scheme pool’s global value-add real estate fund.
As previously reported, Heitman is seeking to raise $2bn for its latest North American value-add fund, Heitman Value Partners VI.
Heitman’s North American value-add strategy targets a diversified mix of traditional and alternative real estate, with a specific focus on non-traditional property types like self-storage, senior housing, student housing and other specialty assets.
Mike Trench, EVP and co-head of Heitman’s value series, said: “We are proud to welcome Border to Coast as a partner in our North American value-add strategy. Their support reflects a strong alignment with our investment approach as European investors increasingly seek differentiated access to alternative sectors.”
Paul Campbell, portfolio manager at Border to Coast, said: “Heitman’s deep history and experience investing in alternative property types align with our interest in diversifying into segments and markets with strong long-term fundamentals. This commitment underscores our confidence in their ability to execute and drive value across geographies.”
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