Real estate manager LaSalle Investment Management has secured a capital allocation of more than £300m (€349.5m) for an existing direct UK custom accounts mandate from a UK local authority pension fund client.
The additional commitment will take total assets under management across the longstanding client’s portfolios to £1bn once fully deployed.
LaSalle has completed seven asset sales and three acquisitions for the pension fund since the start of 2024, focusing primarily on inflation-linked, long-income assets.
The manager said the new capital will target similar core assets, alongside residential opportunities and active business plans across all real estate sectors.
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, said: “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 benefiting from LaSalle’s global platform, its rigorous governance, and best-in-class expertise in research and sustainability.
To read the latest IPE Real Assets magazine click here.
