UK - The London Pensions Fund Authority (LPFA) has tendered a £150m mandate for global real estate, as the £3.6bn fund undertakes a review of its investment management structure.
The fund had previously managed its real estate assets in house, and investment were limited to the UK.
But following the review, it is now looking for a specialist because it does not have global expertise in house.
The tender is for 36 months and the deadline for applications is 4 May 2007.
A number of pension schemes have been prompted to lock in gains with a move into bonds after the estimated deficit across FTSE 100 DB pension schemes improved by £36bn, over the 12 months ending 30 June last year, JLT Employment Benefits found.
HM Treasury has agreed in principle to give NEST a £329m contingent liability guarantee in the event of the master trust's wind up or closure.
AMP Capital has set up a dedicated team to help institutional investors, including pension funds, invest in infrastructure through direct equity allocations.