UK - The £5.6bn Greater Manchester Pension Fund has appointed strategic property adviser DTZ Debenham Tie Leung.
DTZ will advise on the scheme’s £410m property portfolio. The fund took advice from specialists in making the appointment which takes place with immediate effect.
Greater Manchester parted company with its previous property advisor, La Salle Investment Management, 18 months ago. A spokesman for the scheme said that the relationship was not terminated due to any “ill-feeling”. In the interim period the property investments were managed in-house.
The spokesman added that it was too early to comment on any possible shake-up to the property portfolio.
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