John Lewis Partnership Pension Trust, London, appointed Pramerica Real Estate Investors to manage a direct and indirect U.K. real estate portfolio that is expected to grow to about £270 million ($424 million), according to a news release from Pramerica.
The portfolio, which includes existing investments of about £180 million, will have a greater focus on direct investments as the allocation increases, according to the release.
Neither Dinesh Visadavia, head of pensions at the £2.7 billion fund, nor Paul Dennis-Jones, Pramerica's director of U.K. real estate fund management, could be reached for further information.
