This mandate win builds on the £500 million mandate awarded by WPP to Schroders Capital last year to invest in global private equity.
The news will see Schroders Capital’s real estate team deploy up to £400 million in positive impact and local investments across Wales, including local employment generating opportunities, affordable housing and healthcare. The mandate will also target impact opportunities across the UK which deliver positive social impact and decarbonisation strategies that support WPP’s net zero ambitions.
The remainder of the mandate will be invested in UK core real estate focused on the industrial, retail and office sectors, as well as specialist and operatiational real estate such as hotels, self-storage and student accommodation. The commitment by WPP further demonstrates Schroders’ ability to work in strong partnership with clients and provide access to a broad spectrum of real estate investment opportunities alongside its leading impact capabilities.
With £22.1 billion in global assets under management, Schroders Capital’s Real Estate team aims to offer tailored investment and asset management solutions to its clients and partners, delivering long-term sustainable performance through operational excellence with a hospitality-led approach.
Sophie van Oosterom, Global Head of Real Estate, Schroders Capital, said: “We are very pleased to further strengthen our partnership with WPP. Our clients and investors are increasingly demanding more from their real estate exposure and managers – they want to see a razor-sharp focus on sustainability, delivering positive impact and operational excellence to optimise long-term income and value. We are committed and well positioned to meeting these advanced challenges and our partnership with WPP is testament to the strength of our proposition.”
Paul Myles, Head of LGPS Business Development, Schroders, said: “We look forward to working with WPP on this second private markets mandate, further building on our partnership. We are committed to delivering relevant and comprehensive investment solutions which meet the increasingly complex needs of our sophisticated clients, both from a philosophical investment perspective but, crucially, in terms of their financial returns and impact targets.”
Cllr Elwyn Williams, Chair of the Joint Governance Committee, WPP, said: “The appointment of Schroders Capital concludes the majority of the private markets investment managers for WPP. Real Estate is a core asset class for the eight Welsh Constituent Authorities and Schroders Capital will help provide the investment they need to meet their local strategic asset allocations.”
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