ING Real Estate has won a £560 mln (EUR 829 mln) advisory mandate for West Midlands' Metropolitan Pension Fund's direct property portfolio. The deal represents one of the UK's largest pension fund property mandates, ING Real Estate said in a press release. The company took the contract over from previous manager Cushman & Wakefield.
ING Real Estate has won a £560 mln (EUR 829 mln) advisory mandate for West Midlands' Metropolitan Pension Fund's direct property portfolio. The deal represents one of the UK's largest pension fund property mandates, ING Real Estate said in a press release. The company took the contract over from previous manager Cushman & Wakefield.
Commenting on the deal, chief investment officer Judy Saunders of West Midlands' Metropolitan Pension Fund said: 'We were very impressed by ING Real Estate's portfolio modelling strategy and believe they are in the best position to deliver the fund's performance objectives. Property is a major investment for us and ING has the proven skills to manage our considerable exposure.'