UK - The £1.4bn Avon Pension Fund has hired Partners Group and Schroders to manage a property mandate worth approximately £180m.
The tender process - which attracted more than 35 interested fund managers -was completed in association with bfinance.
Avon Pension Fund investments manager Liz Feinstein said it was the third search using the consulting firm.
bfinance business development director Michael Hart said the tender process was made more complex by the lack of comparable long term track records across the industry.
bfinance research and development managing director Olivier Cassin added: "We have seen an increased interest among European investors to diversify their property exposure away from their home market, to include European and global markets.
"In order to gain maximum diversification to global markets, Avon has opted for the 'multi-manager' approach."
Paul Budgen is set to join financial technology and auto-enrolment (AE) firm Smart Pension as director of business development.
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