The ACCESS Pool – a collaboration of Central, Eastern and Southern Shires composed of 11 Local Government Pension Scheme (LGPS) Administering Authorities, with assets totalling c. £45bn on behalf of participating pension funds, announces that it has appointed Orchard Street Investment Management (“Orchard Street”) to manage its Impact Real Estate strategy and has made an initial £100 million commitment.
Orchard Street will target the delivery of attractive financial returns within a formal Impact investment framework focused on the decarbonisation of buildings to deliver attractive ESG led outcomes based on measurable targets.
The £100m allocation has been committed following a competitive process, launched in July this year by Apex Investment Advisory, and follows recent allocations by the Pool to other areas of the private markets, including to Social Affordable Housing and Timber most recently.
Cllr Mark Kemp-Gee, Chairman of the ACCESS Joint Committee, said “This allocation marks a key step in our ongoing initiative to diversify into the private markets. We have been impressed with Orchard Street’s history of Impact investing in commercial real estate and their leading stance on Responsible Investing. This investment partnership will provide attractive long-term financial returns for our members alongside measurable targets to decarbonise, improve health and create social engagement with local communities with a manager that is fully aligned with all the outcomes desired by our members.”
Philip Gadsden, Manager Partner of Orchard Street added:
“This significant commitment from the ACCESS pool is testament to our strong track record of responsible investment and adds a second LPGS Pool to our stable of institutional clients, following on from the launch of the Orchard Street Social and Environmental Impact Fund with cornerstone investment from the Brunel Pension Partnership. We look forward to working closely with the ACCESS team to create a market-leading impact strategy in UK direct real estate, with the objective of accelerating the decarbonisation of existing real estate assets and creating a truly positive impact.”
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