Global real estate investment management firm has been appointed to manage Toronto Transit Commission Pension Plan鈥檚 (TTCPP) 1.7m sqft commercial real estate portfolio.
The agreement involves BGO managing TTCPP鈥檚 properties and helping the C$9bn (鈧�6.1bn) pension fund to develop a global real estate portfolio to improve performance and maximise returns.
As of the of of 2023, real estate accounted for 12% of the pension fund鈥檚 overall portfolio.
James Clarkson, acting CEO at TTCPP, said: 鈥淭oday鈥檚 partnership with BGO enhances our ability to optimise real estate asset management expertise and hands-on property management to strengthen long-term pension sustainability.
鈥淏GO鈥檚 expertise will help us enhance current assets and explore new opportunities that balance risk and value for our retirees.鈥�
Christina Iacoucci, managing partner, and head of Canada at BGO, said: 鈥淲e are proud to have earned this important mandate from TTCPP, which entrusts BGO with delivering strong and sustained risk-adjusted returns through our proactive management of their real estate portfolio.
鈥淎s a disciplined and deeply committed fiduciary and steward of capital, our aim will be to draw on the considerable strengths of our partnership with TTCPP to deliver on our performance objectives for thousands of hardworking TTCPP members and their families.鈥�
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