The Townsend Group is to provide seed capital for AEW´s UK Core Property Fund. The size of the investment made on behalf of a large pension fund was no disclosed.

The investment is the first core balanced fund investment in a much larger client strategy to gain exposure to UK real estate across the risk spectrum, AEW Europe said in a statement.

The AEW UK Core Property Fund will be diversified geographically in the UK and will invest across all of the main property sectors.