ACCESS Pool hires Orchard Street as housekeeper | Impact Investor

The UK-based Local Government Pension Scheme has made the first £100m real estate investment to accelerate the disposal of existing assets.

ACCESS Pool, a consortium of the UK’s eleven Local Government Pension Scheme (LGPS) authorities with assets totaling around £45bn (€53bn), has appointed Orchard Street Investment Management to manage its property and investment portfolio. .

LGPS Group has made an initial investment to impact the real estate sector with a £100m investment, following recent allocations to other areas of the private sector, including affordable housing and timber.

Orchard Road will focus on the decarbonisation of housing and a more visible return on investment, both parties said.

The latest real estate deal “is an important step in our diversification of the private market,” said Mark Kemp-Gee, chairman of the ACCESS joint committee.

Tender process

ACCESS Pool chose Orchard following a competitive process, which was launched by Apex Investment Advisory in July, because of its “record of investment in real estate and its leadership in strategic investment”, said Kemp-Gee.

Kemp-Gee hopes that the new partnership will provide “long-term returns to our members along with the ability to invest, improve health and build relationships with the community with a manager who is compatible with all of our members’ needs”.

Philip Gadsden, managing partner of Orchard Street, said the commitment from the ACCESS pool “is a testament to our strong record of investment.”

After the launch of the Orchard Street social and environmental impact fund, with corner funding from Brunel Pension Partnership, the partnership with ACCESS pool “adds a second LPGS Pool to our regular customers”, said Gadsden.