UK – The £2bn Lothian Pension Fund has selected Standard Life Investments to run a £136m (e217m) segregated property portfolio for a fixed-term seven-year contract.
The brief comprises a mix of UK industrial, office and retail properties.

“We look forward to working with Standard Life Investments on this important asset class for the fund; they particularly impressed us with their coverage of the market and their tremendous asset management resources,” says councillor Maureen Child, the convenor of the council’s pensions and trusts committee.

The manager was selected out of an initial long-list of 30 investment houses.
The management team in charge of the contract at Standard Life is led by Stephen Acheson, head of corporate pensions and Danny O’Neill as fund manager for the account.

Standard Life Investments currently manages over £5bn of property assets on behalf of a wide range of customers, of which £710m is on behalf of pension funds.

Lothian Pension Fund is the local government plan for the Lothian region, and is administered by the City of Edinburgh Council.