LaSalle wins €150m pension plan mandate

LaSalle Investment Management has been awarded a €150 mln mandate by German pension fund BVK to invest in global real estate securities.

The mandate will be managed by the firm’s dedicated securities group, LaSalle Investment Management Securities.

BVK has invested with LaSalle since August last year when it awarded the global real estate investment manager €500 mln for global core real estate investing in direct real estate investment opportunities across all property types and selected geographies.

BVK is now seeking further diversification by taking advantage of the current positive trend in the global real estate securities markets.

'Much like the underlying real estate owned by these companies, real estate stocks behave differently from traditional stocks and bonds, therefore providing real diversification within a mixed-asset portfolio,' said Todd Canter, managing director of LaSalle Investment Management Securities.

'Added return without added risk, that’s the power of diversification and that’s the power of global property securities,' he added.