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."
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.