IO has bought 10 UK industrial estates worth £34m for its segregated mandate for TPF. : IO Asset Management has bought 10 UK industrial estates worth £34m (€38.9m) for Tesco Pension Fund (TPF). The specialist manager said it bought the assets on behalf its multi-let industrial-focused segregated mandate for TPF. The manager paid £17.4m for the Hilldane portfolio, which includes seven estates in Horley, Newhaven, Okehampton, Redditch, Cardiff & Abergavenny. It also bought Stroud Enterprise Centre for £2.5m; Ketley Business Park in Telford for £8.25m and Bredbury 25 Trade Park in Stockport for £5.65m.