News in brief - 16 September

Written by Adam Cadle

16/09/2024

- Schroders has been appointed by Metfriendly, financial specialists in supporting the UK Police Family, to manage a £270m investment portfolio.

The mandate will encompass both multi-asset and short-dated credit assets.

Metfriendly dates back to 1893 when volunteers formed the Metropolitan Police Provident Association, mainly to help widows of colleagues and retiring officers. Since then, it has evolved into a leading provider of savings, investments and protection products designed to meet the financial needs of the UK Police Family. With no shareholders, all profits can be shared with members or used to fund initiatives to support the wellbeing of UK Police Families such as the Police wellbeing dog initiative.

James Barham, executive chairman, Schroders Solutions, said: “The successful outcome of this appointment is the result of the collaborative efforts of numerous individuals across various teams within Schroders, demonstrating the breadth and cohesion of our investment focus. We are grateful for the trust placed in us and are committed to helping Metfriendly meet its investment objectives, as well as more broadly, working in partnership with the UK’s thriving mutual sector.”

- Ares has announced the final closing of Ares US Real Estate Opportunity Fund IV, L.P. Ares raised over $3.3bn to invest in opportunistic real estate in the US through equity commitments to the fund and related transaction vehicles. This marks the largest Ares Real Estate closed-end fundraise to date and is a significant increase from the $2.2bn of commitments raised for the predecessor fund and related transaction vehicles.

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