LaSalle Investment Management has won a £750 mln (€940 mln) commercial property mandate from the Greater Manchester Pension Fund (GMPF).
LaSalle Investment Management has won a £750 mln (€940 mln) commercial property mandate from the Greater Manchester Pension Fund (GMPF).
GMPF is the largest local authority fund in the UK, and has tasked LaSalle with growing its portfolio with commercial property assets worth up to £75 mln each.
‘This is a significant mandate which can rise up to £1 bn and we hope that LaSalle can make a significant long-term contribution for the fund’s returns,’ said Councillor Quinn, chair of GMPF.
Alan Tripp, UK MD of LaSalle, said: ‘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 one, three, five, 10 or 20 years.’