UK/DENMARK - Four major pension funds have made investments in Henderson Global Investors' UK retail warehouse fund.
The £15bn Universities Superannuation Scheme, the £4.7bn Prudential Staff Pension Scheme, the £12bn Lattice Group Pension Scheme and the £1.9bn British Energy pension scheme, as well as ATP – Denmark’s largest pension fund – have invested a total of £117.5m (E178.8m) in the fund.
The fund now includes investments from 13 separate institutions.
Fund director, Neil Varnham, said: “I am pleased that we have not only successfully raised a substantial amount of new equity but also managed to invest the majority of this capital in very competitive market conditions.”
Last year the fund bought Kingsway Retail Park in Derby for £24.75m reflecting an equivalent yield of 6.5% and a freehold development site in Exeter, which has planning permission for 100,000 sq ft of bulky goods retail warehousing and associated restaurants.
The fund’s investment manager Andrew Friend said the fund had grown from an initial portfolio of six properties with a value of £180m, to 15 properties with a value in excess of £550m since its launch in July 200.
The final fund size is expected to be around £750m.
In this week's Pensions Buzz, we want to know if The Pensions Regulator (TPR) is taking the right approach by naming and shaming schemes which breach their auto-enrolment (AE) duties.
Raised over £167,000
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