The Local Government Pension Scheme (LGPS) Access Pool has invested £1.3bn into a property solution.

Two of the 11 administering authorities of the pool, Essex County Council and Hampshire County Council, will invest in UK core and global real estate mandates.

CBRE Investment Management, which was appointed by the pool in November 2023, will manage the property solution, working in partnership with the pool to help leverage the scale of pooling to provide both UK and global real estate investment opportunities.

Access Joint Committee chairman, Mark Kemp-Gee, stated: “We are pleased to report this significant investment two of our authorities have made to the pool’s real estate manager.

“It further demonstrates the benefits of the pooling model where our member authorities are able to realise a number of positives, in this case diversification and cost-efficiencies, to the ultimate aid of their investment objectives for members.”

Adding to this, CBRE Investment Management CIO UK direct real estate, Hannah Marshall, said: “The solution we have been able to provide to the authorities is a great example of how cost saving benefits of pooling can be reaped whilst maintaining access to high quality managers.

“We look forward to working with Essex, Hampshire and the Access Pool as a whole to continue the pooling journey in real estate.”

In total, the Access Pool includes 11 LGPS administering authorities: Cambridgeshire County Council; East Sussex County Council; Essex County Council; Hampshire County Council; Hertfordshire County Council; Isle of Wight Council; Kent County Council; Norfolk County Council; West Northamptonshire Council; Suffolk County Council; and West Sussex County Council.

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