LaSalle Investment Management has secured an additional capital allocation of more than £300m for its existing mandate for its direct UK Custom Accounts business.
Philip La Pierre, head of Europe at LaSalle
The new commitment, made by a longstanding LaSalle local authority pension fund client, takes the total assets under management across the client’s portfolios to £1bn once the capital is fully deployed.
The client’s decision to allocate further capital followed a sustained period of outperformance across its property portfolio managed by LaSalle, the firm said, with the mandate exceeding its benchmark over the medium and long term.
LaSalle has completed seven asset sales and three acquisitions on behalf of the pension fund since the start of 2024, with the investments focusing on inflation-linked, long-income assets.
It said the new capital would target similar assets, as well as residential and assets across all sectors with more active business plans.
The mandate’s property-level asset management is delivered by JLL’s Asset Management Services platform, which has supported LaSalle’s direct UK Custom Accounts business since 2024.
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.”
