Border to Coast commits €80 million to Hines European Real Estate Partners III fund

Border to Coast Pensions Partnership has made a €80 million commitment to real estate investment, development and property management firm Hines’ value-add fund as part of the funds final closing. It comes after the fund exceeded its original target of €1.5 billion by raising €1.5 billion of equity commitments.

Border to Coast follows Greater Manchester Pension Fund in becoming the second LGPS investor to partner with Hines US Property Partners since 2022.

Paul Campbell, real estate portfolio manager at Border to Coast commented: “Border to Coast has strong focus on ESG and the impact this will have on asset values in the longer term. Partnering with Hines, a real estate specialist investment manager with strong ESG credentials, will enable us to deliver for our partner funds.”

Alistair Smith, head of real estate at Border to Coast said: “After carrying out extensive due diligence, we believe that Hines and the HEREP III team have the capability to help us deliver the objectives of our global value-add fund, providing investment capital appreciation and diversification for our partner funds.”