LaSalle UK formalises transition management team
London (November 28, 2016) – LaSalle announces that it has formalised the structure of its portfolio transition management team ahead of anticipated industry activity. The team will be managed by Julian Agnew, LaSalle’s UK Chief Investment Officer.
The formalised team integrates LaSalle’s UK direct investment and global indirect teams. This cohesive and uniquely in-depth knowledge-base will continue to ensure a successful transition of both take-on real estate assets and strategy reorientation.
Julian will work closely with Rebecca Gates, the Head of UK Asset Management, and Jennifer Gaines, the Head of Global Indirect Investments, who have both been closely involved in all recent transition programmes.
As well as managing these assets, LaSalle has extensive experience of integrating employees who are transferring under employment rights regulations, having dealt with large and small transfers when taking on existing property portfolio mandates, service provider changes, and through mergers and acquisitions.
Alan Tripp, Head of UK for LaSalle Investment Management, said: “In our UK business, LaSalle has a long history of supporting new clients as they move their assets under our management. We have taken on existing portfolios of close to £3 billion across direct and indirect assets since the global financial crisis, including both private and public sector mandates. However, in light of changes to part of our investor base, such as the local government pooling initiative, we felt that it was the right time to formalise this important function.”
Julian Agnew, Chief Investment Officer of LaSalle UK, added, “We understand that clients are looking for a well-documented, clearly communicated transition strategy that minimises operational and performance risks. We have well-established and documented procedures, designed to ensure a smooth transition of assets to the nominated fund and asset managers. In the case of LGPS, which requires the amalgamation of multiple pension funds with varying strategies and differing exposures, LaSalle is well-placed to work with new clients and provide a successful transition with one team.”