UK - The £12.5bn BP Pension Fund has purchased an industrial unit in Bow, London, for £2.66m.
The acquisition is part of the fund’s plan to build up a £75m portfolio of small high yielding property investments. Earlier this month it purchased six industrial properties worth £19m.
The property in Bow is let on a new 20-year lease to the Benjy’s Group and the deal reflects a net yield of 8%.
The fund, which has a further £50m to spend, is looking for industrial properties between £3m and £7m with yields at a minimum of 7.5%.
CB Hillier Parker Investors and Donaldsons represented the fund.
The PPI has unveiled a policy paper outlining current considerations and policy debates relevant to DC scheme default strategies. Kim Kaveh explores some of its views.
The £30bn local government pension pool has appointed Quoniam and Robeco to manage an active equity portfolio worth around £400m.
The volume of insured buyouts from FTSE 100 defined benefit (DB) schemes could increase from £5bn to £300bn by 2029, according to Lane Clark & Peacock (LCP).