ACCESS, one of the eight Local Government Pension Scheme (LGPS) pools, has launched two timberland mandates, with anticipated initial commitments of £300m.
The LGPS pool has announced that it is seeking investment managers for two mandates: Global Timberland ‘Core’ and Global Timberland ‘Impact’.
It anticipates that the total mandate size across both components will be approximately £300m, with potential to grow thereafter.
ACCESS is the investment pool for 11 LGPS funds and has pooled around £35bn of assets.
In January 2022, the pension pool appointed Apex Investment Advisory as an implementation adviser for the pooling of illiquid assets. Apex will assist ACCESS in selecting investment managers for these mandates.
The launch of the two global timberland mandates comes as ACCESS launched a UK core real estate fund and global real estate fund in November 2023.
According to the LGPS pool, the size of the UK core real estate mandate is anticipated to be c.£1.25bn, with the global real estate mandate expected to be £550m. It added that both mandates have the ‘potential’ to grow thereafter in line with administering authorities’ strategic asset allocations.
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