London Borough of Hounslow Pension Fund, Darlington, England, hired CBRE and Threadneedle Investments to run a total of £35 million ($56.6 million) in active U.K. real estate, confirmed Michael Rust, treasury management officer.
Threadneedle Investments will run £20 million and CBRE will run £15 million for the £690 million pension fund.
The hires are the result of the pension fund's decision to use external managers for its real estate portfolio, Mr. Rust said. The entire portfolio was previously managed internally.
