Border to Coast launches search for £3 billion UK real estate fund manager

Border to Coast has launched a search for a specialist manager to support the development and management of its multi billion pound UK real estate fund.

The successful manager will work with Border to Coast’s dedicated internal investment team to develop and implement the strategy, source high quality real estate opportunities across the UK, and provide asset management services for real estate assets.

Active stewardship and ESG considerations are required to be embedded within the investment process across portfolio construction and asset management.

The initial UK fund is likely to be £1.75 billion of direct properties at launch, with the expectation that it will grow to more than £3 billion with additional investments from partner funds over time.

Border to Coast plans to launch a second “gateway fund” to run alongside the main UK real estate fund, that will hold indirect assets such as REITs and large UK balanced real estate funds.

Alistair Smith, head of real estate at Border to Coast, said: “UK real estate is a fundamental asset class for our partner funds’ wider investment strategies. This is an exciting opportunity to help build a bespoke, direct property portfolio that offers exposure to high quality real estate investments.

“We’re looking to build a long-term, trusted relationship, and look forward to speaking with specialists in UK real estate that can help us achieve this.”

Townsend Group has been appointed as a consultant to support the development of Border to Coast’s global real estate proposition.

The appointment follows a tender process overseen by adviser MJ Hudson.

Townsend will provide the pool’s dedicated real estate team investment and portfolio support and detailed due diligence on prospective investments in the building of two global propositions.

It will also support the embedding of ESG considerations into the investment process.