North Yorkshire Pension Fund, Northallerton, England, hired Hermes Fund Managers, Legal & General Investment Management and Threadneedle Investments to run £25 million ($39 million) each in U.K. real estate, according to Tenders Electronic Daily.
A search began in June. At the time, Tom Morrison, principal accountant at the £724 million pension fund, said funding would likely come from equities.
Mr. Morrison was out of the office and unavailable for comment.
Search consultant bfinance assisted.