ING Real Estate has won a £560m advisory mandate for one of the UK's largest property pension funds.
It is now responsible for the West Midlands Metropolitan Pension Fund’s direct property portfolio, which has around 50 properties. Cushman & Wakefield held the contract previously.
Judy Saunders, chief investment officer at the pension fund, said: ‘We were impressed by ING Real Estate’s portfolio modelling strategy and believe they are in the best position to deliver the fund's performance objectives.
‘Property is a major investment for us and ING has the proven skills going forward to manage our considerable exposure.’