Property giant eyes £5billion target after Greater Manchester's pension fund helps invest £500million
manchestereveningnews.co.ukGreater Manchester Pension Fund (GMPF) is to invest £150million in a joint venture behind one of the largest regeneration projects in the region.
Bruntwood SciTech is a joint venture between property giant Bruntwood and Legal & General. Both companies have also invested extra funds into the organisation, netting it an additional £350million.
GMPF is the first local government pension scheme to make a direct and active investment into a UK-wide science, tech and innovation specialist property platform.
Bruntwood SciTech is now aiming to create a £5billion UK-wide portfolio that can support 2,600 businesses by 2032. READ MORE: Midland Hotel owner loses almost £60m despite sales nearly doubling READ MORE: Click here to sign up to the BusinessLive North West newsletter GMPF is one of 86 funds that make up the Local Government Pension Scheme (LGPS) in England and Wales.
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