Legal & General Group

The combination of two UK property funds will create a £4.7bn platform amid shifting preferences from domestic pension schemes.

Technological evolution and climate-related obsolescence are both emerging trends on real estate investors’ radar, but so is the potential reclassification of the entire asset class.

The deal includes a separate $200m seed investment by the UK pension investor, which cited growing institutional interest in US multifamily and logistics assets and decarbonization initiatives.

The LGPS collective has tasked Orchard Street with deploying £100m to decarbonize direct UK real estate assets.

He arrives in the newly created role from a nine-year stint at CBRE Investment Management.

Local government pension schemes committed an aggregate £275m across two affordable housing funds last week.

In the event's opening panel, managers’ duty to decarbonize the real estate sector was brought into question. For some, protecting assets for a warmer climate is just as important.

The London-based asset manager has hired Alexia Gottschalch from Aegon to lead the new platform.

The executive joins from Legal & General where he oversaw the UK asset manager’s transaction activity in the region.