LaSalle Investment Management Awarded £750 million mandate from Greater Manchester Pension Fund
August 27, 2014 - LaSalle Investment Management, the leading global real estate investment manager, has won a £750 million mandate from the Greater Manchester Pension Fund, the largest local authority fund in the country.
The mandate involves growing an existing balanced portfolio of commercial property in the UK, and will initially target assets of up to £75 million each. The mandate, one of the biggest to be awarded in the UK in real estate investment management in recent years, is the latest win for LaSalle’s UK business, which manages more than £10bn of assets. LaSalle has $50 billion in assets under management worldwide.
Alan Tripp, UK Managing Director of LaSalle, said: “We are absolutely delighted to have been chosen to manage this major portfolio. We look forward to a successful partnership ahead, building on LaSalle’s track record in the UK with its existing relative-return mandates, which have outperformed over all time periods, whether you look at the figures over 1, 3, 5, 10 or 20 years.”
Councillor Quinn, Leader of Tameside Council and chair of GMPF (Greater Manchester Pension Fund), commented: “We are delighted to appoint LaSalle as the main property investment managers for GMPF following a comprehensive selection exercise, and have confidence in their ability to achieve the required investment returns for the Fund over the long term. This is a significant mandate which can rise up to £1bn and we hope that LaSalle can make a significant long term contribution for the Fund’s returns.”
About LaSalle Investment Management
LaSalle Investment Management, Inc. (together with its global investment advisory affiliates, “LaSalle”) is one of the world’s leading real estate investment managers. LaSalle on a global basis manages approximately $60.5 billion as of Q3 2018 of private and public equity and private debt investments. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. LaSalle Investment Management, Inc. is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Incorporated (NYSE: JLL), one of the world’s largest real estate companies. For more information please visit www.lasalle.com.
This information 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 by means of a private placement memorandum. Past performance is not indicative of future results.