Standard Life picks up Lothian property tranche
UK – The £2bn Lothian pension fund, the scheme for Edinburgh City Council, has appointed Standard Life Investments to a potential £2.3m property mandate.
The manager will handle the brief for £390,000 in property investment for a maximum of six years, according to the contract.
The tender was the most economically advantageous, according to Lothian, which notes that Standard Life’s experience in the property investment sector and its good track record were also among the reasons for the appointment.
The asset manager was selected from a long-list of 11 tenders received.