West Australian public sector fund the Government Employees Superannuation Board (GESB) has appointed Urdang Securities Management to manage an active portfolio of global listed property securities.
The size of the mandate was between $300 million and $400 million, a GESB spokesperson said.
The Philadelphia-headquartered firm has both listed property securities and direct property investment strategies and is owned by BNY Mellon.
GESB uses a number of other property investment managers, including AMP Capital Investors for global unlisted property, and CBRE Clarion and Perennial Investment Partners for global listed securities.
