Global real estate investment management firm BGO has been appointed to manage Toronto Transit Commission Pension Plan’s (TTCPP) 1.7m sqft commercial real estate portfolio.
The agreement involves BGO managing TTCPP’s properties and helping the C$9bn (€6.1bn) pension fund to develop a global real estate portfolio to improve performance and maximise returns.
As of the of of 2023, real estate accounted for 12% of the pension fund’s overall portfolio.
James Clarkson, acting CEO at TTCPP, said: “Today’s partnership with BGO enhances our ability to optimise real estate asset management expertise and hands-on property management to strengthen long-term pension sustainability.
“BGO’s expertise will help us enhance current assets and explore new opportunities that balance risk and value for our retirees.”
Christina Iacoucci, managing partner, and head of Canada at BGO, said: “We are proud to have earned this important mandate from TTCPP, which entrusts BGO with delivering strong and sustained risk-adjusted returns through our proactive management of their real estate portfolio.
“As a disciplined and deeply committed fiduciary and steward of capital, our aim will be to draw on the considerable strengths of our partnership with TTCPP to deliver on our performance objectives for thousands of hardworking TTCPP members and their families.”
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