LaSalle Investment Management Awarded £250 million in a New UK Mandate by Alaska Permanent Fund Corp

March 5 2014 - is pleased to announce it has expanded its investment management relationship with Alaska Permanent Fund Corporation (APFC), and has been awarded a £250 million mandate to manage real estate assets in the UK

  •  Fund will target investments between £50m to £150 million across all property sectors
  •  2014 marks first commercial property investment in Europe by APFC

LaSalle Investment Management (“LaSalle”), the leading global real estate investment manager, is pleased to announce it has expanded its investment management relationship with Alaska Permanent Fund Corporation (APFC), and has been awarded a £250 million mandate to manage real estate assets in the UK.  APFC is a long-term and valued client of LaSalle and currently invests in commercial real estate in the U.S. through the firm’s Americas platform.

The fund will seek investments between £50 million and £150 million, and will consider all sectors, including mixed use.  2014 marks the first time APFC, which invests a portion of the U.S. state's revenue from mineral resources to benefit future generations of Alaskans, has invested in commercial real estate in Europe.

Julian Agnew, Director at LaSalle, said: “We have a long standing relationship with APFC in the U.S., and this mandate builds on the success of that relationship by looking to the opportunities we currently see in the UK real estate market. We will seek to leverage LaSalle’s expertise in real estate investing to diversify the portfolio and achieve strong returns through a number of long-term assets holds.”
 

Michael J. Burns, Executive Director/CEO at the Alaska Permanent Fund Corporation, said:  “While the entry into Europe is clearly expected to provide diversification benefits, the increased capital dedicated to real estate (both domestically and globally) compels us to expand our footprint and opportunity set.  We are excited to team up with LaSalle in the UK and are encouraged at the pipeline of opportunities.”