Nabarro has experience of pension-related funds work, advising Axa and fund managers including Hermes on their investments. This is the first time it has worked for BP.
The firm is the sole appointee advising on the real estate aspects of the portfolio, which totals around £600m in assets under management. BP aims for this figure to increase by 2.5 per cent to around £1bn.
Partner Martin Grabiner is leading the Nabarro team, which includes expertise from across the real estate group. Other key lawyers include corporate real estate partner Justin Cornelius, tax partner Paul Beausang and construction partner Penny Moore.
The role will last for three years and Nabarro will advise on all new acquisitions, including direct and indirect investments such as joint ventures.
The tender process was closed in just over a month, which Grabiner put down to the client's "efficiency".