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.”
About LaSalle Investment Management
LaSalle Investment Management is one of the world's leading real estate investment managers. On a global basis, we manage approximately $71 billion of assets in private equity, debt and public real estate investments as of Q4 2020. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.
NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.