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The Ontario Teachers’ Pension Plan has increased its holding in Hammerson, a European real estate investment trust.

The pension plan’s total equity holding has risen to 8.95 million shares, representing about 3.1% of the shares outstanding.

It also holds exposure to about 20.3 million shares through cash-settled contracts for differences without voting rights.

Teachers’ has told the company that the investment is for long-term investment purposes.

“We welcome Ontario Teachers’, who we know well, as a long-term investor,” says John Richards, chief executive of Hammerson. “I believe we share a common philosophy towards the real estate market.”

Hammerson has investments in 14 major shopping centres and 19 retail parks in the United Kingdom and London. It also owns eight office buildings in central London and Paris.

Copyright © 2019 Transcontinental Media G.P. Originally published on benefitscanada.com

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