What we fund

The Greater Manchester Property Venture Fund is an allocation of £930m targeting direct property investment through partnerships with the twin aims of generating a commercial financial return and delivering regeneration and economic growth.

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£930m allocation of GM Pension Fund

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Property development through partnerships

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Equity and debt investment

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Across all property sectors

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Greater Manchester, Merseyside and West Yorkshire

Goals

Employment creation and regeneration outputs

Commercial financial return

The GMPVF allocation specifically targets property development through partnerships. Established in 1992, GMPVF is one of several portfolios within GMPF designed to deliver specific local investment objectives and outcomes.

The portfolio aims to secure a commercial financial return by providing cost-effective, diversified exposure to property development. Through Local Government Pension Scheme pooling arrangements, the geographical remit extends to include Merseyside and West Yorkshire, in addition to Greater Manchester.

Beyond achieving a commercial financial return, the portfolio seeks to add value to the economy through property development that generates employment, enhances long-term employment prospects, and contributes to the overall economic development of the region. These dual objectives consistently guide portfolio investments.

A core element of GMPVF’s investment strategy is delivering ESG outputs through investment in property. GMPVF’s advisors, CBRE, work with investment and development partners to evaluate and enhance ESG attributes throughout the investment period.

GMPVF’s investments may take the form of equity, mezzanine debt, senior debt, or a combination thereof, typically as a debt funder or a joint venture partner. All property asset classes fall within the allocation’s scope.