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Pension funds snap up real estate at steep discounts

PPF and Border to Coast among schemes hunting in the secondary market as their peers offload less liquid assets

Some of the UK’s biggest pension plans are taking advantage of steep price discounts to snap up real estate and other private assets, as fellow retirement funds put their harder-to-sell holdings on to the market.

Funds such as the Pension Protection Fund, the UK’s £32bn-in-assets retirement scheme lifeboat, and Border to Coast Pensions Partnership, a £60bn local authority pool, are among those looking for bargains in the secondary market as they try to profit from a wave of selling by some of their peers.

The PPF bought part of a property fund at a 35 per cent discount to net assets from a fellow pension fund this year.

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