GMPVF seeks new fund manager
THE Greater Manchester Property Venture Fund (GMPVF) is looking for a new fund manager.
Tameside Council, the administering authority, issued a call for expressions of interest earlier in the month.
The contract would last for seven years with an option to extend for a further two.
The GMPVF is the property investment arm of the fund, which is the largest local authority pension fund in England and Wales with assets of £12.6bn.
GMPVF, which looks to invest around 3% of the total fund or £300m, is currently managed by property agent GVA which has held the role since 2007.
Tameside Council said the search was, “part of the periodic review of investment management arrangements”. It added: “The process is to designed ensure compliance with the requirements for public sector organisations in their procurement of services.”
GMPVF invests across the region. Its high profile schemes include Airport City at Manchester Airport and One St Peter’s Square.
