LaSalle Investment Management has secured a capital allocation of more than £300m from a longstanding local authority pension fund client.
The mandate takes the total assets under management across the client’s portfolios to £1bn, once the capital is fully deployed. LaSalle IM has completed seven asset sales and three acquisitions on behalf of the pension fund since the start of 2024, with investment focusing on inflation-linked, long income assets.
The new capital will target similar assets, as well as residential and assets with more active business plans across all sectors. The mandate’s property level asset management is delivered by JLL’s asset management services platform.
Philip La Pierre, head of Europe at LaSalle, said: “This additional allocation is a strong vote of confidence from a client we have successfully partnered with for many years. It reflects the consistent outperformance that our UK custom accounts team has delivered across market cycles.
“Growing this mandate to the £1bn mark is a significant milestone, and one earned through our track record, our active approach to portfolio management and our highly scalable model for managing direct UK custom accounts – combining LaSalle’s investment expertise with property-level asset management delivered through JLL’s asset management services platform.”
Sophie Simmonds, managing director, UK custom accounts at LaSalle, added: “With this expanded mandate, we will continue investing in high quality, income generating assets to deliver continued outperformance. Custom accounts provide institutional allocators with a tailored approach to real estate portfolio construction, while benefitting from LaSalle’s global platform, its rigorous governance, and best- in-class expertise in research and sustainability.
“Globally, we manage over $30bn in custom account AUM and we believe this format is particularly attractive in today’s market, where investors are seeking customised solutions that offer resilient incomes and compelling returns.”
