- Primevest Capital Partners has signed its second acquisition in the Spanish residential market on behalf of a German pension fund.

Primevest has acquired a residential property of 6,500 m² containing 90 units near the marina of Valencia for approx. €18m. The vendor is Hierros y Corrugados Ribarroja, S.A., a subsidiary of the construction group Grupo Bertolín S.A. The project is set to be delivered in Q4 2024.

The project, which is located on the corner of Calle Vicente Brull and Calle Museros in Valencia, will comprise two buildings with 90 residential units and a basement parking garage with 58 parking spaces. Both buildings will have several chill-out areas, a swimming pool and children’s playground on the roof deck, as well as storerooms and a bicycle shelter in the basement. In addition, each building will provide space for a gym and co-working. The property will be built for rent (Build-to-Rent) and will be completed by the end of 2024. Construction is set to start in Q3 2022.

- Sweden’s AP7 is in the process of tendering mandates for investment management services.

The fund is looking for two to four global equity mandates, which will manage equities within both developed and emerging markets according to a passive index philosophy with a total indicative volume of approximately SEK 700bn. Free access to the procurement documents is available at the following here. https://tendsign.com/doc.aspx?UniqueId=aflittkggd

- Standard Life, part of Phoenix Group, and the Organisation for Economic Co-operation and Development (OECD) have announced a major new Joint Research Initiative.

The three-year deal will be funded by Standard Life and will enable a team of OECD researchers and policy experts on pension issues to explore two of the major challenges facing retirement savers. The work will form part of the OECD’s Programme of Work on Pensions. The first element of the initiative will examine the challenges associated with achieving financial security in retirement. By reviewing global thinking, the Initiative will set out to identify innovative retirement income approaches being used elsewhere to meet the needs of individuals and society more broadly.

The OECD will look for innovative retirement income products and the guarantees provided in different countries to improve certainty of income and reduce the possibility of running out of money. It will also assess the advantages and disadvantages of these solutions and the conditions under which they have been used.

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