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."
Sir Philip Green's restructuring proposals for his retail giant Arcadia will not "adequately protect" its pension schemes' members, The Pensions Regulator (TPR) has said.
The Marks and Spencer Pension Scheme has completed buy-in deals worth £1.4bn with two insurers, mirroring similar transactions last year.
There have now been a total of 47 buy-in and buyout deals of over £500m announced since 2007. The full list, provided courtesy of LCP, is as follows...