LGPS Central, one of the eight Local Government Pension Scheme (LGPS) pools, has committed £200m to a real estate debt fund managed by M&G Investments.
At first close of its latest vintage, M&G’s real estate debt fund had £350m of commitments, with LGPS Central being the primary investor. Other commitments include, £100m from the Prudential With Profits Fund and £25m from an unnamed UK insurer.
M&G Investments stated that the capital will be deployed into real estate loans across Europe. The manager also anticipates raising further money for these funds over the next 18 months.
Nadeem Hussain, LGPS Central’s newly appointed head of private markets, said: “This investment plays an important role in fulfilling our long-term obligations and objectives and we very much look forward to working closely with M&G’s Real Estate Finance team in the future.”
LGPS Central is the pooling vehicle for eight partner funds in the UK Midlands, with £28bn of assets under stewardship.
Recently, LGPS Central has made three job appointments, including new private and public markets leads and appointed a new CEO, Richard Law-Deeks.
Room151 recently conducted a podcast with Nadeem Hussain on investing in venture capital, to listen to the full podcast click here.
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